Thinking of selling my property to a company that will let me live in it until I die?

Jakkwin

Hi all, I am currently in arrears with my mortgage (£900) My mortgage was £145 a month last January, it has now jumped up to £496 a month. I am thinking of selling my property to a company that will still let me live in it until I die. Any help will be so grateful. Many thanks.

JGB1955

Tell us more about this company.......

Jakkwin

I haven't found one yet as I'm looking for some advice please 

peb

There is no such thing.  Go to a decent broker and look into equity release/lifetime mortgages.  I'd never recommend one as there suitability depends on your circumstances.   

beanielou

You need very specialist advice on this.

elsien

List of some of the drawbacks here. Which include eviction for various reasons.
https://www.citizensadvice.org.uk/debt-and-money/mortgage-problems-debt-and-money/mortgage-problems/sale-and-rent-back-schemes/

And this which explains why the market is dead.

https://www.propertyinvestmentproject.co.uk/blog/sale-and-rent-back-scheme/

And some prosecutions.
https://www.fca.org.uk/news/press-releases/three-individuals-face-charges-unauthorised-sale-and-rent-back-schemes

peb

elsien said:

List of some of the drawbacks here. Which include eviction for various reasons.
https://www.citizensadvice.org.uk/debt-and-money/mortgage-problems-debt-and-money/mortgage-problems/sale-and-rent-back-schemes/

And this which explains why the market is dead.

https://www.propertyinvestmentproject.co.uk/blog/sale-and-rent-back-scheme/

And some prosecutions.
https://www.fca.org.uk/news/press-releases/three-individuals-face-charges-unauthorised-sale-and-rent-back-schemes

Precisely.   I didn't think that any companies were still about now,   it must be over ten years since I had a client bring a proposal to me.