Beneficial Interest and OR

Tspice

Hi
So my Father owns a property with my mother. He moved out in March after he owned up to having put himself in financial difficulties yet again! So over the last 7 months he seemed to safeguard himself and his buisness. Told my mum he had a court case but it wouldn't be an issue and it'd get thrown out. Well.. What a liar he is.

My daughter and I moved in with my mum to help out in August. We recieved a letter 2 weeks ago from the insolvency service to explain my dad had been made bankrupt and they were basically looking for the beneficial interest in the property. There is alot of equity in the property and a small mortgage left to pay. I've been doing my research and spoken to a mortgage adviser also. I can get a mortgage to cover the existing mortgage and about 80% of the beneficial interest. Has anyone had any luck in negotiating etc.. My mum has some disabilities and I have my baby here. We don't want to lose the house so I'm doing my best to keep it. Any advice would be greatly appreciated.

Thanks. 

fatbelly

The most recent version of the relevant section of the technical manual that I have is here:

(freedom of information request)

Ask questions if you are uncertain of anything