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T O P I C R E V I E W
Hutch
Posted - 30 July 2010 : 21:33:22 Beneficial Interest
If my husband and I declare BR and our home is in negative equity at the time, can we buy back the beneficial interest after being discharged (assuming it is still in neg equity)?
What if we buy it back after discharge and then property prices increase and it is worth a lot more 2 years down the line? Can the OR then force a sale for the increased equity?
At what point does the OR no longer have an interest in the property?
Thanks for your help!
Hutch
2 L A T E S T R E P L I E S (Newest First)
Housing
Posted - 30 July 2010 : 23:10:14 If you can afford the repayments - go for the BI (£211.00 plus £1)
The ORs solicitor will do it all - you do not need a solicitor - its a Deed of Assignment - 2 sides of A4
If you cannot afford the repayments - think again - you do not want to "hang" yourself
Good luck, Richard
"There are no problems - only solutions"
debtinfo
Posted - 30 July 2010 : 21:45:36 The OR has no interest after you have bought the interest back
