question re benificial interest

tigerfeet2006

longshot wrote: »

flowerpot - i can't believe people would think they own the house
after buying the BI.?

out of interest are you allowed to miss 3 payments before they
try and repossess the property if you own the BI too?

or is it just one payment?

It's still the same process. The BI has nothing to do with the mortgage at all. It is all about who is entitled to the equity from a property after it has been sold.

tigerfeet2006

miaoww wrote: »

Hi guys,
thanks for the advise didnt realise that if we said no now we could still buy in the future - panicing about christmas for the kids and ds birthday as havent managed to save anything (bit materialistic I know) so will leave it for now any who knows if we get some bank charges back will buy it then or try and save beginning of next year. Do you pay to have valuations aswel or do they sort this out?

Mioww open yourself a Credit Union account now. Google Credit Union and your county. Set up a DD to the account for a little bit a month, £5, £10 or so. At the beginning of December ask the CU for a small loan to buy a few things.
http://www.communityfirst.org.uk/credit-union.htm

Also get onto the Freebies board and start getting lots of free things to go into stockings or making up little hampers fro presents.