How long did it take u to buy the BI?

Worriedandpreg

Hi i have a very similar thread going but i was wondering, people who have bought the BI already. From recieving the letter saying u can buy it how long did it take till urs was complete? And did u send ur money etc right away?

Thanks.

Worriedandpreg

Just bumping this up!

Dolly-Rocket

Hi,
I recieved letter offering us BI, three weeks AFTER going BR.
I am now 5 weeks away from AD, and have only recieved the solicitors letters today! So taken 44 weeks. Money was sent off 5 weeks ago.
HTH

Worriedandpreg

Thanks so what has happened in the last 41 weeks? Whats staled it? You or them?

nervousmother

ours took about 4wk i think.. but we were in equity so there was something to hurry them up

Worriedandpreg

Thanks so much that is comforting and hopeful..................

Dolly-Rocket

I've no idea why its taken so long. I always answer everything the same day. I'm guessing that its just not their priority.

wayforward_2

nervousmother wrote: »

ours took about 4wk i think.. but we were in equity so there was something to hurry them up

Do you have to borrow from a relative to buy your BI? Obviously i'm thinking if you have the money the OR will take it as an asset?

sieve

wayforward wrote: »

Do you have to borrow from a relative to buy your BI? Obviously i'm thinking if you have the money the OR will take it as an asset?

They won't, you can buy it yourself with surplus if you want to. They won't take the money.

I went BR on 8th April and have yet to receive the BI letter although it was mentioned to me in my interview. So just sitting and waiting...

nervousmother

wayforward wrote: »

Do you have to borrow from a relative to buy your BI? Obviously i'm thinking if you have the money the OR will take it as an asset?

Our equity was 6K obviously we had to borrow it off MIL. If we had 6k sat in the bank the Trustee would have taken that anyway........

Worriedandpreg

We have the money to buy the BI out as its negative equity.