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Can martin do some reasearch.
jamesy224
Posts: 5 Forumite
Can Martin and his team do some reasearch on the companies who offer to buy your home and rent it back to you.I am currently looking into this option and need some advice.
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This advice is "Don't do it" - you'll get a poor price for your house and, despite verbal reassurances to the contrary, you will not be able to continue living in the house for as long as you want."You were only supposed to blow the bl**dy doors off!!"0
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I agree, don't do it seems to be usual advice.
Search the forum for similar threads, I think one thread has a link to a BBC story about it.
Pick up a copy of this weekend's TIMES MONEY and 'read all about it'.
HTH.
OWMTough times never last longer than tough people.0 -
There is no regulation in this area. I would be very cautious and this will be the summary of any advice that can be given due to lack of regulation.I am a Mortgage AdviserYou should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.0
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People looking to off load thier property quickly and rent back will always have to take a knock on the price. AS they are usual desperate sellers for one reason or another it is normally last resort. Better to sell and rent some where else or downsize0
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It would be impossible to research anyway as its a cottage industry at the moment with lots of low funded, heavily leveraged sole traders doing it as well a few small to medium sized firms. There is going to be some casualties in this arena and a lot of people are going to lose the home they sold cheap just so they didnt have to move.I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.0
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