OR and shares

Sunshine2114

This might be a bit unusual but I'm asking to see if any advice

So went BR April 2013 n at this point we had a share save account at my husband work of £10 a month it was a 5 year plan for our son who finishes school this year, anyway we were just under 4 years into it when we went BR n the OR claimed this (totally understandable) now we are discharged April 2014 and we got a letter in June saying the OR wished to sell back his interest in this share save at £943 .. Ok not a bad deal the share plans worth 2.5k and we had to call within 14 days to accept, so we called Nd offered the full £943 ( my parents offered this) and they advised they would contCt us in due course,,,, so today we get a email saying the ORhas changed his mind and now wants £2359 off us to but the shares as this is the value of the plan based on shares accumulated prior to BR n we can keep the rest approx £800 ... Anyone know hey they would offer us one price then change mind neatly 1.5months later ?

longtermplanner

Sunshine2114 wrote: »

it was a 5 year plan for our son who finishes school this year

Sorry, but whatever you were saving for is irrelevant. It was an account in your husband's name. It won't help you to make good decisions about this account if you persist in think that it is for your son.

Anyone know hey they would offer us one price then change mind neatly 1.5months later ?

This is going to be a frustrating answer, but it sounds as though they made a mistake in their original calculation. There is no way that you should have been offered such a 'bargain'.Tthe offer to you was (I am guessing) not a legally binding contract and the OR has now changed his mind. Annoying, yes. But you need to decide if your family member is happy to pay the higher proce ofr the shares.

Sunshine2114

The plan was for our child I'm not arguing that point that was simply to explain y given our financial situation that we had this in place. We no it's not his :-)

I have no idea why they offered it at that price and we were surprised to be offered anything. it can all go to the OR if needed it was more just trying to gain an understanding of the different offer letters so close to each other after we had accepted in writing to them as requested the first offer why they would change it.

The plan is matured now n worth £3500 so we stand to gain £1k so I'm happy as wasn't expecting anything .. So not to grumble.

It's just a concern if we get a family member to pay 2.5k then it changes again just confused with the up n down privess

dancingfairy

I would write to them, explain that you were offered £943 and then it changed. They should be able to give you an explanation.
df

longtermplanner

If you stand to gain £1000 I wouldn't be querying anything! Sign up to the new offer asap and keep fingers crossed!