Buying back BR

jedi82

Hiya,

Just reading a few posts regarding buying back the BI in our house and am I right in thinking that this could take quite a while? Will the OR write to us and ask whether we want to buy it back (I have already told her yes in our interview) and how long after do they tend to do this?

I was thinking that we could get this over and done with quite quickly but it seems that it could take months....

Anyone bought back the BI and how long did it take?

Thanks, Jedi x

debtinfo

The frst thing is they cant offer it back until they are trustee and this could take around 8 weeks. They thend send you form MP1 that sets the process in motion after that it can range from weeks to months

Angiepange

Hi Jedi82

We bought the BI in our home and I have included the link here, as I posted the whole process we went through to do it.

https://forums.moneysavingexpert.com/discussion/2282901

From start to finish it took 3-4 months.

HTH Angie x

onward

I'm not sure how typical my experience is, but I went BR in Feb this year, and there has been no mention whatsoever about my house yet. My case was handed over to a trustee, but even they have not brought the matter up yet (mind you, they've not been in touch for months).

On occasions I get nervous that a letter may have gone astray in the post...but then I read other peoples experiences on here and realise it can just take some time for things to get moving.

milothewestie

mine was completed about nine months into my bankruptcy but my o/r accepted my first offer on there estimate of the bi some dont so could take longer,bear in mind they can hold onto it for three years to see if the value goes up but it doesnt happen much i dont think:j

Darnit_2

Bought ours back after about 6 months, took 3 to complete.