Grey area on equity and valuation. Getting legal advice as I think it's not as per agreement.

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Markd029

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Post by Markd029 » Fri Sep 12, 2014 2:53 am
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Iva should have finished in June now equity has gone up they want all my equity out of house. (100%) After 5 years goal posts moved valuation at start of year 5( as per court agreement ) not at end of agreement . So in those 12 months now got 10k of equity ( my share) based on zoopla !! Mortgage 341,000 on house valuation 365,000
Bit of grey area on valuation and equity so I'm getting legal advice now as I think it's not as per agreement.
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relieved33

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Post by relieved33 » Fri Sep 12, 2014 7:23 am
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I thought that the whole point of proposals, variations etc was to stop the grey areas!

There does appear to be differing interpretations of equity clauses if the forum posts are anything to go by.

Did your paperwork mention 85% LTV?
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Struzzo39

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Post by Struzzo39 » Fri Sep 12, 2014 7:25 am
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Does your proposal not mention about 85% ltv?
Steven & Debbie
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Foggy

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Post by Foggy » Fri Sep 12, 2014 7:39 am
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You cannot, in any way, shape or form, rely upon a Zoopla guesstimate for such an important matter. They are asking for a value on YOUR house .... the one that hasn't been maintained for 5 years !!
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
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