BI Letters to OR

cs101

Please can someone tell me if there are any letters (sample) as my OH wants to buy my Beneficial Interest of the property.

Thanks in advance

fermi

I've never seen any official/suggested ones anywhere, but if anyone else can point some out that would be great. Otherwise, I'm sure that a few people will have some suggestions for what to put.

A direct approach to your OR enquiring what the procedure to make an offer is, if you haven't already done so, would also be a good starting point.

cs101

Thks fermi

Looking for some good points so that OR can approve.

By the way if the OH buys my BI for 4k , does she have to pay the full amount on the spot. This becomes very difficult situation then.

rog2

Hi cs - We are in the same position, in that my wife has been offered the opportunity to 'buy' my BI. She spoke to CAB, who advised her to ask my Trustee what sort of offer they would be willing to accept - my BI has been estimated by Trustee at £78k - and to ask for time to raise the necessary finance.
She wrote to Trustee, two months ago, and all she has received is a reply acknowkedging receipt of her letter and stating that 'the points therein have been duly noted'. We are as confused as you.
There does not seem to be an accepted procedure for this.

Conor_3

cs101 wrote: »

By the way if the OH buys my BI for 4k , does she have to pay the full amount on the spot. This becomes very difficult situation then.

Yes. There is no "monthly option". The full amount is due. Don't forget that it'll be the £4k PLUS the ORs legal fees/expenses.

BTW, if you know someone who works in an estate agency, it may be worth getting them to do you a "valuation". Usually the OR asks you to get a valuation and if you've only got a few £k in equity, it's feasible to get a lower valuation to make it zero equity so there's only the legal fees.

cs101

Any one with the sample letters please

Thanks