own half of the house

chungoi

Dear all
My farther passed away last year leaveing his house which is paid for to me and my sister.I had it valued at £75,000.My sister had it valued at £100,000.Now my question is how it can be so far apart when my valuer says it wants a lot of work doing on it.But my sisters valuer says its only cosmetic(eh).It wants a new kitchen,bathroom.The last time it was updated was 1974 so you can tell it needs some work.Anyway about 7yrs ago i got into debt with my brother not my fault just been stupied with a sob story .Anyway i ended up owing £28,000 pound .paid that off this year with the help of payplan.But noticed on my credit report i had 2 defaults one goes off next year the other 2015.So i want to buy my sisters half in my farthers house.Who is best to see for a morgage i will need about £55,000 to buy my sister out and do the house up anyone any ideas thanks

g_attrill

Was it estate agents doing a valuation? This will vary much more than using a chartered surveyor, you could both instruct one and split the difference. It will cost you both though.

dimbo61

Go with your sister,s valuation and ask her for £50,000 and she can keep the house!
Then you have £50K to put down on a modern house that does not need thousands of pounds spending on it and you can pay the mortgage and enjoy life.
See how she fancies that idea or put the house on the market for £103K and split the equity once sold.

chungoi

thanks for all that but i want the house.had one broker phone me up and i could get a tracker £320 a month i am a bit dubious about a tracker anyone any ideas