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T O P I C R E V I E W
potless
Posted - 07 November 2009 : 19:26:43 Hi everyone. I was discharged from BR in September and due to the fact that Im in neg equity the OR has given me the option to buy the beneficial interest for £1. What I would like to know is they are saying they require a cheque for £464 to be paid in advance to cover sols costs but I was under the impression the cost would be £211, could someone please advise. Thanks in advance.
3 L A T E S T R E P L I E S (Newest First)
debtinfo
Posted - 07 November 2009 : 23:38:27 I know it sounds mad but there is a reason, If the property is jointly owned then when the bankruptcy happens only the Beneficial interest transfers to the OR, even if both owners go bankrupt. This is easier to sell back and so the £211 fee. If the property is solely owned the Legal Title passes to the OR and so it is more complicated to transfer back hence the £464 fee
chester2005
Posted - 07 November 2009 : 20:57:30 £211 is the cost if there are 2 people on the mortgage and one is buying the others BI i believe £464 is the cost if you are the only person on the mortgage
Dave
Don't worry or know that worrying is as effective as trying to solve an algebra equation by chewing bubble gum.(Baz Lurman) RevivaUK helped me through it all i can't recommend them enough!!
Housing
Posted - 07 November 2009 : 19:52:40 Simon,
Congrats on being discharged early - enjoy!
As far as I am aware the general fee is £211.00 plus £1.00 to buy the BI - but certain areas attract a higer fee I believe.
I am sure one of the experts will respond and again, good luck and enjoy a debt free lofe hereafter, Richard
