Warning: Sale and Rent back schemes

madmum66

i have been looking at this option so i can sell my house, use the money to make improvements to my partner's house and rent my house back for a while till the owrk is complete. im glad i looked at these threads as it has now made me rethink my options. i see from this forum many of you are financial and mortgage advisors. do any of you know any alternative options that are out there that are similar or safer ?

Owen_Williams

I am interested in this sell and rent back situation, but I am concerned about it. I have been offered one of them, and am considering the scheme. I have a lease at home, but am not sure about it. I understand that I have certain rights and that certain clauses should be in the lease.
I have read it through and understand what is in there, but I am not sure that it is complete. I have a right to buy back and the lease is quite long, but I would like to know if anyone out there has a standard government approved lease that I can compare it to. If they have my email address is [EMAIL="owenkwilliams@googlemail.com"]owenkwilliams@googlemail.com[/EMAIL] I won't be asking any silly questions about where it comes from, just as long as I can confirm it is AOK.
Cheers

clutton_2

own there is no such thing as a standard tenancy agreement. Before you sign up to this scheme, i would go to see a lawyer who specialises in housing law. I wou ld also check that the firm who are doing the SARB are registered with the FSA - if they are not... dont do it. If they are registered then they will have had to jump through hundreds of FSA hoops and have substantial cash as security to ensure a safe deal for you and also for the property trader.