Buy now rent back scheme...any advice?

[Giddy Kipper]

I'm thinking of the above just to clear our mortgage debt but still be able to stay in the house and just pay rent. Has anyone used a particular company?
I know we won't get market value but we also have no costs and to be be honest, it will take the weight of the mortgage from us and allow us to stay here with our dog and a new baby on the way.

That way all our debt will be unsecured and I can CCA challenge them and try to reduce our monthly outgoings. I assume everyone will scream and tell us not to do it but has anyone had a positive result or know of something else we can do to release some equity? We have roughly £15-£20k in the house but our credit is too dire to get a secured loan. The longer we leave it, the house will be in negative equity anyway and we will end up having the house repossessed.

I should point out that we missed a mortgage payment on 21st June but am hoping to catch up with this on 21st July so we should have no arrears. Prior to this, we hadn't missed a payment in 5 years. I'm out of work and due a baby in 7 weeks so can't do very much to contribute to the household income. My partner doesn't earn enough to cover all our necessary outgoings at the moment.

Any constructive advice would be appreciated!!

Thanks

[old_andrew2007]

Its difficult to answer because of the complexities, so my reply is to bump your thread