My mum and I own our property jointly and are making ourselves bankrupt tomorrow. We have had valuations done which show that there will be at most equity of around £2000 and possibly negative equity. Given this fact, is it still possible to purchase our interest back from the OR for £1.
As Jan has said, you can't buy back the beneficial interest for £1 anymore. They will value your home again in 2 years and 3 months, and deal with it at that point.
Just to let you know that we made an offer to the OR to buy back the beneficial interest 7 months into BR & it was accepted...No where near £1 though!!!!!!!!!!
"Good things come to those who wait".....I'm a patient person but this is taking the Mickey!!
Morning My mum and I own our property jointly
Posted - 18 July 2011 : 11:01:56
