I declared myself bkrupt in August 2008 following which my building society had tthe property valued by a surveyor for their purposes (not for a mortgage application) to see if there would be a shortfall for them to absorb should the property have to be reposessed. They were happy with a valuation of £210,000 against my outstanding joint mortgage of £208,000. Now PriceWaterhouse have been appointed as my trustee and have had the property valued 2 weeks ago and have a figure of £230,000 and expect my co-mortgagee to pay half of the equity to retain ownership. I cannot accept that the property has increased under the current economic climate and my question to you is whether I can appeal and if so how do I do that.
Obtain a couple of local agent valuations and submit to the Trustee stating the actual value of the property - it may be that the trustee has done what is known as a 'drive by' valuation. I would certainly challenge with an up to date local agent valuation, you do not need to inform the estate agrent as to why, just state you wish to place the property on the market
Melanie Nicholas 28 years insolvency experience - 23 of which in the Insolvency Service - Insolvency Manager Jones Giles
I declared myself bkrupt in August 2008
Posted - 16 March 2009 : 17:06:58
