There was a piece on BBC Inside Out tonight about these companies. (http://www.bbc.co.uk/insideout/content/articles/2008/04/22/west_midlands_mortgages_s13_w9_feature.shtml)

The trouble seems to be that the company mentioned bought the house at a reduced rate (£60k instead of £85k) but offered a lifetime rent of £300 per month. Fine. Not a problem. But then the purchasing company didn't pay the mortgage, and so the house was repossessed anyway.

SO now that woman is out on the street anyway.

With the credit crunch and possible negative equity issues facing millions of people, this whole area needs to watched carefully.

On the flipsode, there is also news that a sell to rent back conmpany has gone bust as the ex-owners/now-occupiers refused to pay rent. Dunno what happens to the house at that point!