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 we buy back the beneficial interest ?
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Hutch
Starting Member



25 Posts

Posted - 30 July 2010 :  21:33:22  Show Profile  Reply with Quote
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

debtinfo
forum expert



2826 Posts

Posted - 30 July 2010 :  21:45:36  Show Profile  Reply with Quote
The OR has no interest after you have bought the interest back
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Housing
Senior Member



United Kingdom
1399 Posts

Posted - 30 July 2010 :  23:10:14  Show Profile  Reply with Quote
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"
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