Beneficial Interest

debtinfo

It is the equity, in your case £1, plus the fees of about £450

hopefulfooluk

I am in the process of buying back the BI in my own, solely-owned property. My legal costs were £460, plus the £1. I wasn't offered it until the day after I was discharged so you might have to hang tight for a while, but if you're in negative equity, I don't see why it wouldn't be offered to you.

Don't save the money to buy it back before you go BR as you will have to declare that money to the OR and you will probably lose it on BR day.

Cheers,

Chris

loopylu36

Hello, I don't want to hijack a thread but my question is related this issue. We own a house together which is in negative equity and my husband owns another house. The other house is my parent's house in all but name (they had to sell their house cos of a mis-sold pension mortgage that they then discovered they would never be able to repay) They used some of the money they got when they sold as the deposit on the house my husband bought with the aid of a buy to let mortgage. Allowing for the fact that 15% of the house belongs to mum and dad (there is a deed to this effect) this house is also in negative equity. I fear that a Statutory Demand is on it's way to us - nice Christmas Present :rolleyes: so my question is what would happen to both houses? Could my parents buy any BI in the house they live in? I'm far more worried about them losing "their" house then us losing ours. Any help would be greatly appreciated.