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Screensize: 640 x 480 800 x 600 1024 x 768 1280 x 1024 UserName: Password: Format Mode: Basic  Help  Prompt  Format: Font Andale Mono Arial Arial Black Book Antiqua Century Gothic Comic Sans MS Courier New Georgia Impact Lucida Console Script MT Bold Stencil Tahoma Times New Roman Trebuchet MS Verdana   Size 1 2 3 4 5 6   Color Black Red Yellow Pink Green Orange Purple Blue Beige Brown Teal Navy Maroon LimeGreen Message: * HTML is OFF * Forum Code is ON Smilies [quote][i]Originally posted by michmar72[/i] [br]Hello I am new here and am looking for some advice, my boyfriend who I jointly own our house with has been made bankrupt(HMRC VAT 102K) and we are at the stage that the trustee has been appointed. Its his only asset They have had our house valued and have now contacted me to say the house is valued at £230,000.The mortgage redemption amount is £104,712.14.Therefore the equity is £125,250 and his half of the equity is £62,625.00. They have asked if I would like to make an offer and if so what the offer is. -I agree the valuation, as I also had the house valued -I have spoken with our mortgage provider and in principle they are happy for me to take over the mortgage and I could get up too £150,000 which would mean I could offer up to £45,976.00. The monthly payments on £150k mortgage would put me at the limit of my budget and I have no other ways to raise the shortfall of £16k. My boyfriend is self employed so going forward I want to know that I can cover everything myself and his earnings are a bonus So my questions are When the trustee has asked me to make an offer, is that really what they mean? Is it a negotiation ? How low should you go? Can I start low and work my way up to my final number? Anything else anyone has been through this can tell me? I would be grateful, I don't want to do the wrong thing and cost myself money. Thank you in advance Michelle Where will it all end :( [/quote]   Check here to include your profile signature. Check here to subscribe to this topic.