House Valuation

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bombshell

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Post by bombshell » Fri Oct 03, 2014 1:16 pm
Hello everyone,

I am coming up to the end of month 66 out of 72 and I am waiting on the letter to ask to have my house valued.

I have one valuation already from a local estate agent. However, do I need two estate agents valuations or will one estate agent and one on-line valuation do? The on-line valuation is estimated and around £8,000 more than the local estate agents copy but still shows I am in negative equity with both the on-line valuation and local estate agents valuation.

Thanks,
IVA commenced April 2009 and completion certificate issued on the 25th August 2015..

PPI still on-going

I'm there....
 
 

Cleo76

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Post by Cleo76 » Fri Oct 03, 2014 4:02 pm
Hi, We had two valuations in may this year with two different estate agents. We weren't allowed to use online valuations but it may vary depending on who you are with
 
 

mole

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Post by mole » Fri Oct 03, 2014 4:10 pm
If you are clearly in negative equity (via an online quotation or an estate agent), then that should be sufficient for your IP.
 
 

kazzafunk

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Post by kazzafunk » Fri Oct 03, 2014 8:01 pm
I agree with Mole - of your IVA company wish to look into it further then they can do Zoopla comparison or pay for a 2nd.

Many Estate Agents now refuse to put valuations in writing - they have probably realised why we ask for them!
Kazza

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IVA completed 21/03/2012
 
 

bombshell

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Post by bombshell » Fri Oct 03, 2014 8:14 pm
Thanks guys.

The estate agents valuation puts me in huge negative equity and they have given me written confirmation on what they have valued my house at. So using the 85% LTV I'm at minus £18,000. Which I know is good for the iva but not good as I can't sell my house at the moment. The on-line valuation still puts me in negative too but not as bad as the agent agents.

So, if I submit one valuation using the estate agents written one will that be surfice you think?

Thanks,
IVA commenced April 2009 and completion certificate issued on the 25th August 2015..

PPI still on-going

I'm there....
 
 

kazzafunk

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Post by kazzafunk » Fri Oct 03, 2014 9:49 pm
I think this will be fine.
Kazza

Please visit my blog:
http://kazzafunk.blogs.iva.co.uk/

IVA completed 21/03/2012
 
 

Foggy

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Post by Foggy » Fri Oct 03, 2014 9:53 pm
It is, of course, up to your IP, but I would try with what you have got and hope he / she is happy with that.
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
 
 

bombshell

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Post by bombshell » Fri Oct 03, 2014 9:59 pm
Thank you guys for your input... Fingers crossed. I've come so far and now it would be nice to see closure ;)
IVA commenced April 2009 and completion certificate issued on the 25th August 2015..

PPI still on-going

I'm there....
 
 

kazzafunk

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Post by kazzafunk » Fri Oct 03, 2014 10:04 pm
Let us know how it goes!
Kazza

Please visit my blog:
http://kazzafunk.blogs.iva.co.uk/

IVA completed 21/03/2012
 
 

bombshell

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Post by bombshell » Fri Oct 03, 2014 11:08 pm
I will do thank you ;)
IVA commenced April 2009 and completion certificate issued on the 25th August 2015..

PPI still on-going

I'm there....
 
 

bombshell

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Post by bombshell » Mon Oct 20, 2014 12:19 pm
Letter received today from GT regarding equity release.

They wanted a current valuation and a mortgage redemption statement. All these sent now to the progessions team. I can show I'm in huge negative equity of minus 5,000 and more.

Does anyone know how long this review now takes and what would happen next?
IVA commenced April 2009 and completion certificate issued on the 25th August 2015..

PPI still on-going

I'm there....
 
 

Michael Peoples

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Post by Michael Peoples » Mon Oct 20, 2014 12:51 pm
You should receive notification that the IVA will cease before the end of the term. The completion certificate may take a little longer.
Michael Peoples | McCambridge Duffy Insolvency Practitioners
http://www.mccambridgeduffy.com
If you would like to talk to me about proposing an IVA or have any questions at all please visit www.mccambridgeduffy.com
 
 

bombshell

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Post by bombshell » Mon Oct 20, 2014 12:57 pm
thanks Michael.

So, do you mean my IVA will finish before the 72 month agreed term?

How's that possible?

Thanks,
IVA commenced April 2009 and completion certificate issued on the 25th August 2015..

PPI still on-going

I'm there....
 
 

Michael Peoples

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Post by Michael Peoples » Mon Oct 20, 2014 1:01 pm
Sorry I mean you will be notified before the end of the term that your payments will conclude as normal. I phrased that wrongly!
Michael Peoples | McCambridge Duffy Insolvency Practitioners
http://www.mccambridgeduffy.com
If you would like to talk to me about proposing an IVA or have any questions at all please visit www.mccambridgeduffy.com
 
 

bombshell

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Post by bombshell » Mon Oct 20, 2014 1:07 pm
ah, I was getting a tad excited then..

Okay cool. I thought that's what would happened. There's also no PPI so I hope now that's all the info I have to supply.

I would imagine though they will ask for the more payslips?

Thanks,
IVA commenced April 2009 and completion certificate issued on the 25th August 2015..

PPI still on-going

I'm there....
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