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Ellie

Sale Anrd Rent Back

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Has anyone else noticed a growth in this market? What is the experience - I suspect a lot of people are conned into selling their house at a discount (as they can no longer afford the mortgage repayments) in the belief they can live in their home indefintely -but they are then tenants on an assured shorthold tenancy - and can be given notice of two montths even iof they are model tenants and never miss a days payment on the rent. has anyone any info on this?

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has anyone any info on this?

Only the leaflet that comes through the door every third day.

All they're really trying to do is make a quick buck; they do this by paying vastly less than the market value of your home.

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I heard of this scheme originally starting exploding in the US, then leaflets came through the door and and the papers became saturated with ads like those IVAs you see on TV. Symptom of just how stretched people are.

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Has anyone else noticed a growth in this market? What is the experience - I suspect a lot of people are conned into selling their house at a discount (as they can no longer afford the mortgage repayments) in the belief they can live in their home indefintely -but they are then tenants on an assured shorthold tenancy - and can be given notice of two montths even iof they are model tenants and never miss a days payment on the rent. has anyone any info on this?

There was a news story a couple of months back, horrible, about how a pensioner had un-secured debts of £50K, and a small flat worth about £120K, so some homebuyers co bought it off him for about 70K, and he ended up with basically nothing after all the fees etc. Then he got into more debt and couldn't pay is rent so they kicked him out of his flat and put it on the market for £150K. The numbers are wrong here, but that was the gist of it.

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I posted an article recently covering a scam in the US based on leaseback. The lending party simply remortgaged all the properties to the max, took the money and ran (the title was no longer in their name the tenants knew nothing about it of course until default/repo notices were served).

I's just like BTL with a double hold over the tenenats, desperate to stay and desperate to pay any raised rent to stay in "their" home, well it stopped being theirs when they signed it over and in many cases it was never their home as it was the banks' anyway and they never had any chance of ever paying it off.

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There was a news story a couple of months back, horrible, about how a pensioner had un-secured debts of £50K, and a small flat worth about £120K, so some homebuyers co bought it off him for about 70K, and he ended up with basically nothing after all the fees etc. Then he got into more debt and couldn't pay is rent so they kicked him out of his flat and put it on the market for £150K. The numbers are wrong here, but that was the gist of it.

What a peckerhead. Really has only himself to blame

Anyone heard of actual figures on how much these companies have been paying?

Wont be long before you trevor mcdonald doing a feature on this

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