The structure refinements and the electrical and magnetoelectric measurements were performed for BIT.1BF and BIT.2BT. The tetragonal distortion of the ab plane became lessened with the addition of $4BiFeO_3 into Bi_4Ti_3O_{12}$ significantly. However, the tilting of the outer-oxygen octahedra of the perovskite unit and the elongatin of the $(Bi_2O_2)^{2+}$ layers became more pronounced. For the both phases, the bariations of dielectric properties and electrical conductivities at high temperatures showed that the ferroelectic I-rerroelectric II phase transition existed before reaching the Curie temperature. The electrical conductivity became higher with the increase of $Fe^{3+}$ ions, implying that the electron transfer increased correspondingly. The magnetoelectric effect was observed linear up to ~8 kOe, which was stronger in BIT.1BF than BIT.2BF. This behavior indicates that the distortion of the ab plane may affect the induced polarization as well as magnetic moment.