HOME repossession claims in England and Wales are currently at their highest levels since 2014, with a shocking 39 per cent rise in the last 12 months alone; the largest annual increase since the financial crisis began. This has caused households across the UK to reassess their financial situations; with many falling into traps of payday loans and struggling to cover day to day outgoings, all whilst looking for ways to take on a second income stream.

However, one company has decided to help those needing a light at the end of the tunnel. Theyrentanyhome.com, a business launched by Entrepreneur Ryan Otto, has made a very bold and generous promise – to pay your rent or mortgage and help those struggling with financial worries and the threat of home repossession.

A quick search reveals they are no strangers to the property market, with 17 listings on booking.com, covering areas from Brighton seafront to Sandbanks Road in Poole.

Marketed as the ‘dream home challenge,’ their website states: ‘Get only six landlords to rent their properties to us, and we’ll pay the rent on your dream home.’

But why? Well, from speaking with Ryan Otto, it seems he believes it’s time for companies to step up and help, stating: “It’s never been a better time for a company like us to be empathic and at the same time offer a real solution that will pay their mortgage or rent on their current home, or their dream home.”

So how does it all work? Well, their unique offer invites you to become an agent by referring landlords. Once you have successfully referred your sixth landlord, your rental or mortgage payments begin. And the rate is certainly not one to be scoffed at. Starting at £1,200 per month, it’s enough to cover the average rent or mortgage in most parts of the UK which could help to prevent many of the 6,179 county court claims for repossession.

The challenge is not only very cleverly marketed, it seems it could be a real solution to a growing problem and comes at a time when not only are home repossessions hitting record highs but household savings and disposable incomes are falling quicker than ever before, causing statistics to show that more and more households have fallen into financial distress over the last 18 months.

Wanting ‘the dream home figure’? It could be within easy reach. Available to those who successfully refer 12 landlords, the £2,400 per month is the amount a dream home would cost in comparison to the average UK salary of £28k per year.

But is it all too good to be true? Well, of course, not every homeowner knows 6 landlords, but for those who do, and for those who have the capabilities to go and find them, this offer could be a lifeline.