Buying back beneficial interest in my property

sfjnet

Hi all, I am returning to this forum 6 months after going BR, needing even more of your good advice. I have just had the letter from the OR with their demand for the cost of my BI in our house. It's a bit annoying because back just before my BR I got a surveyors valuation that put the value of the house at just below the amount of our mortgage. The OR took so long in processing things however that the original valuation went past their time limit and they asked for an update. The surveyor did a new letter but added £5000 to the value! This means that the OR is now asking me for £2500 as my share. I am not necessarily complaining about this (the surveyors valuation is fair) but I was just wondering - the letter says that if I want to buy the BI I should provide a written offer. Does this mean that I can offer to pay less than the amount they are asking for? If so, what criteria should I be considering to put my case forward? I have major central heating problems and can get a letter from a heating supplier to say that the boiler is "beyond reasonable repair" and needs complete replacement. Would this be something they might consider as a reason to assign a lower value? I realise it is difficult to be definite about anything but any suggestions or experiences you can share would be appreciated. Many thanks.

sfjnet

Doesn't anyone have any advice / opinion they can offer on my question?? I suppose that for most people going through this, once they have sorted out their BI they are done with the whole thing and so perhaps don't come back to the forum, but I was hoping there might be an "expert" or two amongst you.

milothewestie

sfjnet wrote: »

Doesn't anyone have any advice / opinion they can offer on my question?? I suppose that for most people going through this, once they have sorted out their BI they are done with the whole thing and so perhaps don't come back to the forum, but I was hoping there might be an "expert" or two amongst you.

my b/i was 4000 i offered 1300 and it was accepted but all o/rs differ in what they will accept,write a nice letter saying after taking estate agents and solicitors costs both approx 1000 each yopu could offer about 1000 -1500 see what they say you can always go back with a better offer best of luck for the future

roger196

Get a quote for CH replacement. Suggest to OR this should be deducted from valuation if this was a drive by one ie surveyor did not carry out internal inspection and/or was unaware of problem. If you don't ask you dont get, so worth a try.
Good luck.

debtinfo

you offer what you can afford, the OR either accepts it or not, its that simple