minimum equity

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BlueShoes

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Post by BlueShoes » Sun Jul 01, 2007 10:55 pm
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Hello
We have approximately £4000 equity in our property. Would our house be safe in BR? Could we raise this amount from a friend or relative to prevent the house from being sold?
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MelanieGiles

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Post by MelanieGiles » Sun Jul 01, 2007 10:58 pm
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It is at a level where a Court would probably not grant a possession order, but the Trustee could secure an indefinate charge against it to be realised when prices increase. The best thing to do would be to find a friend or relative to offer to purchase the current beneficial interest if you can.

Regards, Melanie Giles, Insolvency Practitioner for over 20 years.

For further details contact me at http://www.melaniegiles.com and view my IVA blog at: http://melaniegiles.blogs.iva.co.uk
Regards, Melanie Giles, Insolvency Practitioner
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