A Quick Sale’s Sale and Rentback (SARB) Index, which monitors the hundreds of calls coming into it’s contact centre each day, reveals that an average of 4000 homeowners each month have contacted A Quick Sale wanting to sell their home quickly. These calls are from all regions across the UK and more than 35% enquired about sale and rent back – whereby they sell their home but remain as a tenant.
According to A Quick Sale managing director Richard Watters, the figures indicate that where previously homeowners would first look to remortgaging as a strategy to help manage their payments, the impact of the credit crunch is causing them to think about selling their home via sale and rentback sooner than they would perhaps usually need to consider in order to alleviate money problems.
"Current conditions are understandably placing borrowers under pressure and in that environment, their coping strategies will be stretched. What the A Quick Sale index shows is struggling borrowers responding to the reality of repossession and considering alternative ways to protect themselves and their families. For many people, becoming an accidental tenant, selling their homes yet being given the option to stay, is the best option for them and in the face of severe financial difficulties, is a solution they welcome."
