Hi all, We are going to give the keys back to Northern Rock when we move out.
I received a letter today from the OR about the Beneficial Interest (BI).
It states
"Before the transfer can proceed, we have to agree on the value of the interest being transferred. To do this, I shall need to see an up to date valuation on the property prepared by an independent valuer or agent(which you may obtain) and up to date details of the amounts owed to creditors claiming mortgages and other charges over the property (which you should obtain and supply)."
Its gives me two options. 1) I confirm that I am interested in the beneficial interest being transferred and will undertake to provide the necessary valuations within 21 days.
2) I confirm that I am not interested in the beneficial interest being transferred and understand it will remain vested in the trustee.
========================== Now all i want to do is hand the keys back, do I still have to get the house valued etc ...... Is this going to cost me more money ?
Basically No, you dont want to keep it as you are moving or have moved out, so just cross out the bit (1) where it says about proceeding and obtaining an upto date valuation and sign to say your not going to buy it.
Hope that helps. Its a standard letter and if you dont intend to buy the BI then just say no and return back.
Glad i could be of service. I had the same come through the other day, oh and im sorry if i have confused anyone with my new name/status it will all come clear in a week or so.
Beneficial Interest
Posted - 24 October 2008 : 19:42:01
