How to Cut Your Monthly Bills and Get Out Of Debt

How to Cut Your Monthly Bills

One of the most common questions you will find being asked online or offline is 'How can I cut my monthly bills and outgoings'?

If you already own your own home, then there is an answer that may be right under your nose.

With Northern Rock near the verge of collapse, interest rates on the rise and global tensions leading to a downturn in the world economy. Maybe the time to be a home owner is over?

These days with rents being cheaper than most mortgages and house prices beginning to fall, it can make more financial sense to rent rather than buy your home.

If you already own your home and you are feeling pressure from your mortgage lender or have unsecured debts like credit cards, then selling your home and renting it back could be the option for you.

You could get

- A Cash Lump Sum
- Your Mortgage and other Debts Paid Off
- Lower Monthly Costs
- More Disposable Income from you pay packet

All this without having to move from your home, so your kids can stay in school, your neighbours don't have to know that you situation has changed.

But most importantly you will have a fresh start without debt, something that very few of us these days are able to experience.

For more information contact us on 0800 634 28 21

BBC Highlights Sell & Rent Back Dangers

Concerns over repossession rents

Five interest rate rises in a year have seen repossessions increase. Some householders facing repossession are ending up homeless after selling their homes to property companies, a BBC investigation has found. The firms, which lease the properties back to the ex-owners, are said to be imposing large rent rises. Others complain that they have received less than the market value for their former properties. Consumer advice groups and housing charities said they were concerned about the lack of regulation.

Only option

A Citizens Advice Bureau official said one elderly man had sold his home under such a deal for £40,000, even though it was valued at £165,000. There was just no other way out if I wanted to keep the house Victoria Taylor A nation (re)possessed? The investigation for the Five Live Report found that such deals are on the increase at a time when increase rates have risen five times in the past year and the number of repossessions has gone up by 30%. Victoria Taylor lived in her home in Wolverhampton for 26 years, but was unable to meet the mortgage repayments after her partner left her.

On Five Live Sunday Breakfast she said selling and then paying rent to live in her house seemed like the only option. She said: "Had there been another way out I wouldn't have done it, but there was just no other way out if I wanted to keep the house."

If you are considering selling and renting back your home and are concerned about this BBC report, then make sure that you obtain references from any company that you approach. All reputable sell and rent back companies will be only too happy to provide details of satisifed tenants who have sold their homes to rent back.
We also offer a buy back option for you to buy back your home at a discount in the future and we can guarantee rents for up to 2 years.
Alternatively, sell and rent back may not be the best option for you and we try to give clear advice on what your options are before you consider sell and rent back.

For more information and contact details visit our website at
www.cashformyhouse.co.uk