Questions and Info relating to Property Issues inc, Charging Orders and Repossession

Moderators: TalbotWoods, JaneClack

By t4mtheb4m
#200781 Hi i am thinking about BR but i am worried about loseing my home
the current value is 165000 and i my outstanding balance is 157000
iam in a 5 year fixed mortgage which has three 42 MTH to run and t
there would be a fee for early redemption
How dose this affect me
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By scotcrew
#200786 With a projected equity of 8k (maybe less as the market spirals downward) then firstly they would work out what BI they would gain. If your partner has a share of the house then usually your entitlement is 50% - so now it's only 4k. They will look at the redemption and if that excedes the remaining BI then they will have no interest and let you 'buy' the BI for a nominal £1.00.

slainte
SC