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T O P I C R E V I E W
tm999
Posted - 12 October 2008 : 22:03:00 If I was to go bankrupt there is no equity in my property but i have a mortgage secured against the property would the mortgage company still allow me to stay in the property providing i paid the mortgage or would they seek possession of the house instantly
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BankruptC
Posted - 12 October 2008 : 22:09:57 Hi tm999 and welcome to the forum!
If there is no equity in the property, you would be able to remain in the property. This is providing of course you keep up repayments on the mortgage and any other loan secured on the property. A third party would be able to buy the Beneficial Interest (basically any potential equity) in the property for around £1 plus £211 fees.
