Can someone tell me the end game process for buying back our house interest?
We had the letter from the OR saying we could buy back our interest in the house subject to valuation and duly got this done and sent the valuation back saying yes we would like to buy back interest for £212 given the negative equity of £20k.
We've now had a letter saying our file is being passed to the RTLU department in Swansea.
Will they get in touch re paying the £212 to bring this all to a close and is there anything I should do?
I was discharged four months ago after 7 months BR so would be glad to finish off the paperwork and gut wrenching envelopes from the OR.
The RTLU should write to you confirming the position. If you haven't heard anything within a couple of weeks I would contact them directly.
The process should be straightforwad. You will need to confirm in writing your agreement to pay their costs (£211) and the consideration (£1 if negative equity). The OR or RTLU will instruct their solicitors, who will prepare all the paperwork and make the appropriate entries at the land registry, and it should be simple thereafter
Buying out house interest process
Posted - 17 March 2010 : 11:56:48
