As interest rates rise some homeowners are pushed into financial hardship with the increase in mortgage costs. Many facing repossession may have to consider selling their home quickly. However the housing market is slowing down and it is not easy to find a quick sale for your home. Waiting your time out with an estate agent can add further to the already financial and emotional distress.

Many homeowners are reluctant to move as they have formed and emotional attachment to their property. For those who find themselves in such circumstances, to sell and rent back is an excellent option.

The sale and rent back idea is simple to understand. The homeowner sells their property to a house sale specialist who then becomes the homeowner's landlord and the rent is set at the market value for the area.

There are many positive points to this method as the seller receives the cash they need without any delay and without incurring any black marks on their credit file. If you choose to sell your house quickly and rent it back you will always be given an option to buy back in the future and a predetermined price will be set. Many find this a useful option when their circumstances improve.

As there is no need to move, the children can stay in local schools and need not be cut of from their friends.

Repossession is not the only time when someone may consider a quick sale of his or her home. Here are some other situations where you may consider selling and renting back your home.

Perhaps you are experiencing a rough patch in your relationship and may be considering a separation from your partner or spouse. One of you wants to remain in the home so that the children are saved from some of the effects of this separation/divorce.

May be for one of a number of reasons you wish to release the equity, which has built up in your property. This could be that you are facing financial difficult, have health problems and need money to pay for an operation or want to start a new business venture. Whatever the reason, a house sale specialist will buy your property quickly; release equity and rent back to you.

It does not matter whether the property in freehold or leasehold, house, maisonette, land or a flat, residential or commercial. They will consider anything regardless of its condition.

If you are planning to emigrate you can sell and rent back whilst you organise the shipping of your furniture etc.

There used to be only a few companies offering to sell and rent back, but now there are dozens so it is important to find one that is reliable and has only your best interests in mind. One such company operating from Leicester, with agents throughout the UK, is An Instant Sale who offers to find a solution to any problem. They can buy your house within seven days. However as with an estate agent it is always wise to shop around and see who is offering what before making a decision.

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