Jane and Richard Hudson say they feel they have been robbed

As the credit crunch bites some people who can’t pay their mortgages are turning to sale and rent back schemes.

Emma Simpson, BBC News – 6 Oct 2008

But there are fears that they have little protection against unscrupulous operators.

The schemes give struggling homeowners the chance to sell their houses to a company and then rent them back.

It’s a growing business with some 2,000 schemes in the UK – but for some it has not turned out to be the lifeline they had hoped.

One such couple are Jane and Richard Hudson. When they fell behind with mortgage payments early last year they asked their local council for advice.

Among the options discussed, Basildon Housing Department suggested sale and rent back and handed Jane a leaflet for a company called Home Assured.

Within days of contacting them, the paperwork had been done – and for the Hudsons the deal sounded so simple. Full Article