Hi, desperate for advice. In the 5th year of iva with step change.They have valued my house on line and come up with a figure £30,000 more than the true value of the property. This has been done without actually seeing the house, or taking into account the amount of work needed to bring it up to a decent standard, as for obvious reasons I have had no spare money for renovations. Thanks in anticipation
Others have challenged and gotten their IP to change their mind in this type of scenario.
IVA started March 2011, Completed March 2016 and certificate issued 11 days after final payment. It was not always easy but then some of the best decisions aren't.
Ask two local estate agents round for quick sale valuations ... they may try you on signing the deal but just hold your ground and say you will come back yo them after discussing your options.
once done submit to Stepchange asking them to re-evaluate based on 'actual' valuations based on internal and external condition not on internet valuation
Sharing from experiences of dealing with debt
There is a solution for everyone .... Just need to stay positive !
We allow the cost of the valuation to be paid as an expense of the IVA provided the cost is within reason. You only require a valuation and not a survey so £100 should more than cover the cost. You can then tell the agent what you want it for and they can price the property accordingly.
Even if Stepchange do not allow the cost to be paid it may be worth investing the £100 yourself as it could save yopu a year's extra contributions if your IVA was extended based on a wrong valuation.
luckyalf, I am with Stepchange myself and my valuation was done at the beginning of this year about 4 to 5 weeks before the 54th month was up.
When they asked for the mortgage figures, etc I mentioned to them that I would not be happy with an online valuation as they tended to be wrong and my property needed work doing on it.
Stepchange arranged for a local valuation agent to call and do a valuation visit where I could point out all the damp, etc. Stepchange arranged and paid for it themselves.
Contact them and ask if they can do the same for you as the valuation is so much out.
They did ours online, so I sent them 2 estate agent valuations. They didn't agree with them so instructed an independent valuer (at their cost) who valued it £5k lower than the estate agents!
There's more to life than money....but it does help!!
64 payments made. Full and final with payments made to date accepted on 26/05/15 completion certificate received 17/06/15
Our IP did a desktop valuation on our house which gave us just £131 over the £5k equity margin forcing us into another year. We asked if we could get our own valuation done, they said no problem. We were honest with our local estate agent as to why we wanted the valuation and paid £60. I know some people have said tell them you're selling and need a quick sale, and they will evaluate it for free, but I'm no good at lying! the IP then did an average of the 2 valuations, which brought us in under the £5k, so we are due to finish our IVA this October!!!!
getting there ....
Got there!!
IVA started 27/10/2010
final payment 27/10/2015
CC received 6/5/16
Off the register 5/8/16
Thanks all for the advice, quick step arranged for a surveyor to visit the property, he valued it 25K less than the online valuation. Still a little over price,so another verbal battle with step change looms.
Hi Luckyalf - if the 'verbal battle' gets you nowhere you can still arrange your own valuation. Depending on the figures you might want to suggest an average of the two.
completion certificate received 17/06/15 
