We’d like to remind Forumites to please avoid political debate on the Forum.
This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
The Forum now has a brand new text editor, adding a bunch of handy features to use when creating posts. Read more in our how-to guide
Beneficial Interest Post BR
northernmonkey0_0
Posts: 100 Forumite
Hi all,
We went BR back in 2009 and at the time we had little equity in our house so a family member bought the beneficial interest for £1.
Anyway, it all went swimmingly and we went through until now not worrying about it at all.
Currently our house is on the market as we're looking to upsize but I'm unsure if I need to do anything about the BI?
Do the titles need transferring back to us, or anything else?
The other thing is, that we were lucky enough in the past few years to have overpaid on our mortgage and with the value of houses going up, we're currently looking at about £50k equity.
Will the OR look at us again or is this done with once and for all?
We went BR back in 2009 and at the time we had little equity in our house so a family member bought the beneficial interest for £1.
Anyway, it all went swimmingly and we went through until now not worrying about it at all.
Currently our house is on the market as we're looking to upsize but I'm unsure if I need to do anything about the BI?
Do the titles need transferring back to us, or anything else?
The other thing is, that we were lucky enough in the past few years to have overpaid on our mortgage and with the value of houses going up, we're currently looking at about £50k equity.
Will the OR look at us again or is this done with once and for all?
I've been through the mill once or twice and come out the other side...
0
Comments
-
Surely if you bought the interest it's nothing to do with the official receiver?
Plus its over the three years?0
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 354.4K Banking & Borrowing
- 254.4K Reduce Debt & Boost Income
- 455.4K Spending & Discounts
- 247.3K Work, Benefits & Business
- 604K Mortgages, Homes & Bills
- 178.4K Life & Family
- 261.5K Travel & Transport
- 1.5M Hobbies & Leisure
- 16K Discuss & Feedback
- 37.7K Read-Only Boards