Selling Home and Renting it back

[Everhelpful]

Has anyone had any experience of Selling their Home to a Company and Living there as a Tenant? I appreciate you will get a lower value,but are there any more catches? Many Thanks for any replies.

[oldwoman]

We did it . The process was started in May and concluded August. Our house was valued at �70,000 and we got �53,000. It was an ex council house. We pay �350 a month rent. We are very happy as the mortgage still had 10 years to run(remotgage) and my husband is 62. Northern Rock gave him a 25 year term. After 15 years we still owed them �20,000 and only borrowed �29,000.We went with one where you dont pay fees upfront. I have lived here since being a child and we have been promised life time tenancy.It is a bit scary but our lives are definitely better.

[Everhelpful]

Thank you for reply,oldwoman,It has certainly given me food for thought as I don't have a Mortgage as I am 66.. Would I be able to get a No-Obligation qoute?

[Postdog]

Oldwoman, what was the company?

[oldwoman]

www.sell-quick.co.uk You are under no obligation and even when they`ve done the surveys and given you a price you can still pull out.

[oldwoman]

If you read the site Everhelpful I think you can.

[Everhelpful]

Thank you all for your replies.