Halifax have announced a 1.9% rise in house prices and this is something I did not want to hear, as I am still waiting to hear from the OR after going bankrupt in Oct 08 with regard to buying the BI in my house.
How long does it normally take for the BI to be sorted out?
Should be I be worried about house prices rising much more over the next few months or am I panicking over nothing?
I just cannot understand what it is with house prices. First economists say that house prices will fall even more then the Halifax announce a rise.
I am no expert on this but what determines whether house prices go up or down. It seems as if no one can really say what will happen.
Normally a letter comes out within 3 months after the OR has done a 'drive by' valuation - have you provided a valuation to the OR - this can helpspeed things up. Give them a ring you have nothing to lose
Melanie Nicholas 28 years insolvency experience - 23 of which in the Insolvency Service - Insolvency Manager Jones Giles 01446 711780
Thanks for you reply. I had my interview November 4th 08 so i will give the OR a little more time. If the OR Values my home and it is more than I estimate it can I dispute this. I know that the house next door was sold was bought for £85000 last August and I have proof of that from the land registry would this be sufficient proof.
The house next door is exactly the same only they have central heating we don't, would this further reduce the value.
I too went br in October (13th), and we received a letter 2 weeks ago with regards to buying the BI.
We got an up to date redemption statement from the mortgage co (and any other secured loans) together with a valuation from an estate agents, based on a 60-90 day sale. We managed to get these sorted within a few days and off it went. The cheque came out of the account end of jan, so we are just waiting for all forms now.
I hope you hear soon, but still cannot see the market going up that quick.
Maybe a 'naive' call or email to the OR to see if there is anything that is still to be sorted out and if you can help in any way.
Good luck
Onwards and Upwards is the way im going :-0)
From "Moneyworries" to "Movin On" in 3 months is fantastic :-))
House Prices Rise OH NO!
Posted - 05 February 2009 : 12:38:59
