how long did it take to get back your BI?

JPS29

Cheers debtinfo.

I suppose I just have to sit it out and wait and see. Frustrating though.

It's a bit unfair to have hard and fast set in stone rules for residential and not BTL. Don't get me wrong I fully appreciate not being able to get it back on the low cost conveyancing but would have thought they would have had enough dealings with these by now to work with a formula, such as if in NE and monthly rental income is X then based on future earning potentials, BI buyback fee is Y or Positive equity and monthly rental income then BI buyback is Z

Is challenging the RTLU the same as challenging the OR. By this I mean that when the OR wants you to agree to a BRU and you disagree it goes before a judge. If they want to let your BTL get repo'd and you disagree can you argue your case to a judge or does the buck stop with them?

debtinfo

Yes RTLU is just another part of the insolvency service like the OR, all have the same rules.

Actually the rules for the family home are an improvement brought in in 2004. THis was so that it would be seen as fairer to bankrupts and their families to have a definiate way to buy their property back and so not affect their family as much. BTL's are seen as business's or investments and so are not seen to need the same protection, it is just seen like an other asset such as money in a bank account or shares