Thousands are using them to repay their mortgage and debts or to avoid repossession. But how safe are they?
The increase in interest rates, higher loan and mortgage costs, and years of easy credit, has led to more than a million homeowners struggling to make their monthly repayments or even facing repossession.
One solution which is fast gaining in popularity, is to sell your house to an investor and then to continue to live in it as a tenant. The advantages are tempting to those facing losing their home or worrying about their mortgage and debt repayments.
A very quick sale in complete confidence. No more monthly repayments. The buyer responsible for buildings insurance and all repairs and maintenance. And if there's enough equity in the house, the seller will receive a cash lump sum as well. In most cases there's also a saving of hundreds of pounds of outgoings each month.
But there's a downside. These plans are not regulated so it's vital that the buyer is a well established company which has the resources to allow the seller to live in their home for as long as they wish. Will the buyer pay a fair price and charge a fair rent? How is the home valued? What rent increases could there be in the future? Have all the details of the scheme been presented fairly and completely?
Homeowners must also explore what other options they have. They should speak to their lender as soon as they are having financial problems.