Sell and Rent Back | Buy and Rent Back

Sell and Rent Back

Renting Back  

Many people wish to release equity tied up in their property, but do not want to leave their home. Or they find themselves needing to clear debts.  It may be that their lender has served an eviction notice and they are financially in a difficult situation or they’re going through a separation.  In all of these circumstances, to sell up and move out may have seemed like the only option, but with 2nd Chance Housing you really will get a 2nd Chance.

At 2nd Chance we appreciate that you may like living where you are.  Your children may be settled at school or you might enjoy the local community and have friendly neighbours or maybe the property has been passed down through generations – all reasons why you’d want to maintain stability in your life and remain in your home. 

With our Sell and Rent Back Scheme, we can arrange for you to remain in your home for as long as you wish to.  Although you won’t own the bricks and mortar anymore, your family will be able to stay in their own home, all you need to do is pay your pre-agreed rent in full and on time each month and you can stay in your home indefinitely.

Sell and rent back your house is a great option if you:

  • have financial difficulties and need to release equity for your property quickly
  • are facing repossession and need to pay off your mortgage, or other secured and non-secured debts, but are looking to stay in your home
  • have money tied up in your home and want to release capital for whatever purpose
  • are going through a divorce/separation but one party wishes to stay in the house to avoid disrupting their life and that of other family members
  • are moving abroad or relocating with your job and need to sell quickly but rent back for a short term until your new property is ready

WHATEVER YOU CIRCUMSTANCES ARE WE CAN HELP YOU,
CALL NOW ON 0800 881 8102 or CLICK HERE TO FILL IN OUR INQUIRY FORM

Renting Back

Your Tenancy

At 2nd Chance Housing we want you to remain in your home, which is why we offer long term tenancies.  Providing your rent is paid in full and on time each month, your tenancy will be automatically renewed every 12 months.  We are members of the National Landlords Association (NLA) who are the largest organization for landlords in the UK.  As members we agree to abide by a code of conduct giving tenants as many rights as landlords.

Pets / Smokers

You don’t even have to worry if you have pets or are a smoker, 2nd Chance Housing is happy to accommodate all of your needs. 

Property Maintenance

Owning your own home can sometimes be extremely hard work and can really get you down.  Not only have you got to find expensive mortgage repayments each month, you are responsible for maintaining and repairing any issues with the property.  This can really add to the pressure if your income simply won’t cover the cost.
By renting back from 2nd Chance Housing, you can say goodbye to all that extra pressure.  2nd Chance Housing has its own maintenance team, so any structural repairs, heating, hot water or leak repairs can be dealt with as quickly as possible by us, at no cost to you.  You will only have to deal with the day to day up keep of your home and garden, let us take care of the rest.

Buildings Insurance

In addition we will be responsible for the buildings insurance, helping you make another saving! Of course you will still need to take out contents insurance, to protect your belongings.

Housing Benefit

Once you’ve sold your property to 2nd Chance Housing and started paying your rent, you may find you could be entitled to Housing Benefit.  2nd Chance Housing is happy to accept tenants on Housing Benefit, whether it’s full payment or part payment and you pay the top up.  You can even have your Housing Benefit paid straight to 2nd Chance Housing, making it easier to keep up to date with your rent.

Payment Methods

You can pay your rent or top ups by Standing Order.  A Standing Order form will be sent to you as soon as your tenancy starts.  Simply take this along to your Bank, who will be happy to set this up for you.  Your monthly rental or top up will come directly into our account, helping you keep up to date with your rent.

Rent Increases

2nd Chance Housing will endeavour to ensure your rent is affordable by keeping it in line with current market trends and comparing it to similarly let properties in the area.  At the start of your tenancy your Purchase Specialist would have negotiated your rental payments with you.  This rental figure is usually lower than your mortgage payment and is fixed for a minimum 12 months.   Any future rent increases are kept to a minimum and all tenants are advised at least 2 months prior to being implemented.