sell my detached house fast and renting it back is a fairly new concept, and is being promoted and financed through home buying companies that are springing up around Great Britain. In the past, those who were facing repossession of their home would simply let the bank have the house and go elsewhere, or refinance the mortgage with a different lender. However, refinancing has its pitfalls. While you keep your home, most of the refinanced loans hold higher interest rates due to your lowered credit score. Additionally, the refinanced loans are typically for a much larger amount that you owed the original lender. In the end, you are paying more for your house, and you may not be able to make the higher payments.

On the other hand, getting a quick property sale and renting it back will keep you in your home without added debt that you cannot pay. Comparable to refinancing, you can usually get more money for your home than you owe the original lender, and thus pay off many other debts as well. However, when you are selling and then rent back, you are only ridding yourself of debt rather than building it up. Additionally, the rental payments are usually much lower than the original mortgage payment, and can be quite reasonable. You can learn more by obtaining government information on buying and selling your home.