Letter received re beneficial interest

kezza90

Hi all,
It seems the Insolvency must be getting up to do with their paperwork as many people are receiving letters regarding the beneficial interest in their property.

Today I received the same type of letter, unfortunately my property is not in negative interest (I never thought I'd say those words!), I currently owe approximately 62k and the last property sold on my street for 97k but back in 2007. I know of a similar property on the next estate which sold for 84k thro a bellway exchange.

I've been asked to provide an independent valuation of the property and details of what I owe on the property and then we can come to some agreement.

My questions are:
Has anyone been in my situation?
Do the independent valuers do low values if you ask them and explain the situation?
How am I supposed to buy back the beneficial interest if I have no savings and am unable to get a loan due to going bankrupt?
My property is leasehold and there are only 60 years left on the lease, a new lease is approx 7k, will this value be deducted from the valuation?
Even if the beneficial interest is e.g. 17k, can I still offer e.g. 1k or will I be laughed off?

Thanks for any guidance you can give x

kezza90

bumping up......