I have just been told by the OR, that if any 3rd party buys the BI in my House for the nominal £1 or a greater sum depending on value, the Mortgage company have to agree as they will require some sort of financial input /guarantee, from this third party as they have a interest in the House! Is this true and what sort of financial commitment would they have to make?? I thought the 3rd party bought the BI (in this case will be a pound) and then myself still liable for any mortgage payments and or financial matters.
hi there! no its not true your names on the morg and its up to you to keep the payments up i have just got my house back off the OR and mine was in negative equity my mum bought my interest off them for me in my name but she paid the fee si
Expert Advice Pls Ref Beneficial Interest!
Posted - 16 April 2009 : 17:50:37
