beneficial interest

[scaredkez]

hi all know this question should be for the other site but dennis hasn;t been on for ages, we were told to get a forced sale valuation off an estate agent, after finally managing and persuading one to come out free of charge after a few white lies ( doesn't pay to be honest most of them wanted £150 up front) he has valued the house at 135k at the top range, so we asked what we would get for a quick sale he said 120k. and will be putting that figure down for us, how do we work what the beneficial interest will be if that is the figure the OR uses.

we owe 104k but there will be 4k penalties plus £1k help with costs that has to added also so before the mortgage is paid back it will be 109k leaving 11k equity, so there would be the cost of selling and solicitors etc to be taken out.

what do you think realistically they would ask for in the way of beneficial interest.
thanks
kerri

Please view my blog at: http://scaredkez.blogs.iva.co.uk/

[MelanieGiles]

Kerri

Your beneficial interest is the £11,000 less an amount for notional cost which I would suggest at £5,000, leaving you with £3,000 each.

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

[scaredkez]

thanks for your reply melanie will let you know how we get on, ready to petition now.
kerri

Please view my blog at: http://scaredkez.blogs.iva.co.uk/

[Skippy]

Good luck Kerri, there really is light at the end of the tunnel for you now x

Onwards and upwards!!!

View my blog at http://skippy13.blogs.iva.co.uk/

[coco]

Good Luck Kerri,

My outstanding morgage and redemption charge would cost 76K the valuation was set at 84500 when the proposal was set for the variation meeting it was concluded that i would have to make a payment in the 4th year of £375, the valuation was done in Jan i had forwarded onto the OR to use as at the time of petitioning the valuation was less than 2 months old. I am hoping that they use this figure as i am sure the would a posiblity of keeping the house, i have my OR meeting next week over the phone so i will let you know what the outcome is.



(I apologise for my keyboards poor spelling and grammar)
http://coco.blogs.iva.co.uk

[aguise]

Good luck kerri and coco hope all goes well for you both you very much deserve some peace in your lives.

Angx

[iva experts]

Good Luck!

All the best with everything!!
Just relax and everything will be ok.

Hope this information is of use

Regards. IVA Experts

[DebtDummy]

Good luck kerri and coco!

All I have left is my humour.

[freelili]

Good luck Kerri

and coco

LILY

I asked God for a solution and have to live with his reply.