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.
£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
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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
Hi everyone. I was discharged from BR in September
Posted - 07 November 2009 : 19:26:43
