building societies

[c.j]

just recieved a letter from my building society, you have entered a voluntary arrangement we need to re-evaluate your property and it will cost you £65 !!! the cheek of it. phoned ip, they didnt know why theyve done this and hadnt heard of it before. phoned building society- because you are bankcrupt we need to do this to make sure we get our money-ARGGH we are not bankcrupt, have never missed a payment, money is allocated for our mortgage and will not miss payments as we will fail our IVA and then become bankcrupt. they kept me on hold for 10 minutes while they checked with the administrator, who wouldnt speak to me as they dont make or recieve phone calls. It is in your terms and conditions so youhave to pay it. I refuse to pay it i said, then we will add it to your mortgage. you can do a valuation but you pay for it as you want it doing i replied, i remortgaged in feb they didnt do valuation but were happy enouigh to remortgage. i have been with the same company for over 5 years. talk about kicking someone when they are down, wish i could kick them. its about time some people realised an IVA isnt the same as bankcruptcy and improve their customer relations.sorry to rant but i am really annoyed about this.£65 might not be much to thembut it is to me.

[MelanieGiles]

This is the second time in the last month that I have read a post mentioning this. It is indeed bizarre, but your mortgage company are probably just concerned about the value of their security.

[Adam Davies]

Hi
It could be to do with the mortgage companies indemnity insurance,they may need to revalue properties of anyone entering into insolvency.
I wouldn't worry too much about it
Regards

[kallis3]

c.j, ours did exactly the same, only we weren't told that they were going to do one, they told us afterwards! Apparantly it was a 'drive by' valuation, although how on earth you can do that I don't know.

For all they know we could have been living in a shell with nothing inside. We also got charged £65 and no amount of arguing will get them to shift it.

Wouldn't mind, but they had only revalued it a couple of years earlier when we took out a top up. I know we are going into a recession, but we were no where near the valuation anyway!

As a matter of interest, who is your mortgage provider? Ours is Chelsea.

Ours also said br and we had to explain it to them. We've never missed a payment either. We have till the end of the year to pay, otherwise it will be added to our mortgage.

I think it's a bloomin' cheek!

[c.j]

surprise surprise ours is the Chelsea as well.wont hold my breath about being let off with it then.

[kallis3]

No, I suppose we will have to bite the bullet and pay! I wonder how many more of these 'valuation' fees they have charged people in IVA's?

If they hadn't had a valuation in the last couple of years, I woudn't have minded so much, but they know it is worth quite a bit more than the mortgage owed.

We don't have the money at the moment - just managing to keep our heads above water. I suppose it will have to be added on.