Q about buying Beneficial Interest

Smiling_Girl_2

If my husband goes bankrupt and we get to the point where we are offered to buy the BI in the house (it is in negative equity so we are hoping this will happen) would I be able to buy it if I am not earning?

We currently jointly own the house.

DON79

Hi Smiling Girl, and welcome too

You can buy the BI, the OR will not ask whether you are earning or not as it is not any of his business. As long as you can get the money together to do it and you pay for it, then it will not matter if you are working or not.

Hope this helps a little.

Smiling_Girl_2

thanks for the reply and the welcome, although I have to say I'd rather not be here!

DON79

I know what you mean, but at least you can find people in the same situation and we all help each other out when we can.

davetheman

Can a friend purchase the BI in the house, we are unsure at present if my OH will need to go BR

DON79

Hi, any trusted friends and family can purchase the BI if you ask them to and they are willing to help you out.