Seling 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.

[www.des-res.]

I have looked into this in depth and would issue a word of warning. You are right in saying that you do not get full market value for your property, they have to make a profit. On paper the scheme seems alright but you need to look at your possition as a tenant long term. What happens to you if the company goes bust? If assets are put into liquidation, you could end up homeless (or in some horrible council accomodation).

If you want to converse in confidence to see if I can offer some alternative suggestions please e-mail [email protected]. This year alone, I have managed to assist seven people who would have otherwise lost there homes. There are lots of altenative answers to a problem, it's just knowing who to ask.

[Everhelpful]

Thank You for your reply,Carol. I am very unsure about what to do as I don't really understand the small print. My main concern is ,as you say,problem of long-term tenancy. I haven't discussed anything with my Wife yet ,as I am only testing the water,so to speak.I will keep a note of your Email address and will let you know if I do proceed. My other problem is I am66 years old and fear this might count against me,and I also took a very small Equity Release 5 years ago,although House is paid for,hence no Mortgage.Once again Many Thanks for your help.