This information applies to England and Wales

The schemes that you talk about are generally known as sale and rent back schemes, but they may also be called buy back or sale and lease back schemes.

These are schemes where private firms offer to buy your property, usually at a discounted price, and rent it back to you. A private firm can mean a company, a broker or a private individual.

This may look like a good way out of your mortgage problems because it allows you to pay off your debt while being able to stay in your home. However, you need to be very careful about signing up to a sale and rent back scheme run by a private firm because they can be very risky.

For more information on things to look out for with sale and rent back schemes, see Sale and rent back schemes, but you should try to avoid these and look at all other options first.

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