Buying house equity from Mazars

MovingSlowly

Hi All

Have been a keen lurker for a couple of years and have gained a huge amount of knowledge from the board before and during my bankruptcy.

I am discharged next month and everything has been pretty smooth. The only outstanding thing I need to sort is the equity in my house.

I jointly own the house with my wife and it is only me that is bankrupt, so I need to realise my equity in the property should we want to keep it. I am lucky in that I am able to get the money to buy this from Mazars (trustee) and have had a valuation and they want me to make them an offer.

The house is valued at £200k and our outstanding mortgage is £110k, so there is £90k equity in the property and my half is obviously £45k.

Does anyone have experience in this area as to what a reasonable offer would be? Obviously I want it to be as low as possible whilst getting accepted and wondered if there is a formula to calculate this? If it was sold they obviously wouldn't get £45k by the time all costs are covered.

I was thinking of offering £30k but any advice or experience would be greatly appreciated.

Many thanks in advance for any help.