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Jamie-Law, Solicitor
Category: Law
Satisfied Customers: 6725
Experience:  Solicitor
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We had a personal loan from a friend years ago,then a few

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we had a personal loan from a friend years ago,then a few years later solicitors became involved then a couple of years ago we were asked to pay the loan [£50,000]back we have our house on market,no offers yet,it's a thatched 17century cottage.the solicitor now is demanding they get a valuation of there own,inwhich they want me to pay for it.we bought it for £125,000 [ 7 years ago ]they have pressed a few buttons on their computer and £151,000 has come up.[we are selling for £179.950]but what they do not take in,is the place was derelict,with no kitchen/bathroom ect.the question is..can they force me to get a valuer in and have to pay for it.

Hello my name is ***** ***** I will help you.

Was the loan secured on the property please?

Customer: replied 1 year ago.
it was,many years later

And now they are enforcing the charge? Did the loan say how and when it would be repaid? Are you in arrears?

Customer: replied 1 year ago.
no,it was open ended,no we have a standing order with my bank,we are up to date

Ok, so on what basis do they want a valuation?

Customer: replied 1 year ago.
they think it's overpriced..even though estate agent put the figure on,not me...we have had many viewings and like I told them,not one has been put of by price

but what difference does the value make? You are making repayments

Customer: replied 1 year ago.
they seem to think i'm overpricing it to stop returning loan

But what difference does that make? You are making repayments?

Customer: replied 1 year ago.
are you telling me,that as long as I continue to pay the repayments,they cannot force me to not only reduce my house price,but also cannot make me sell my house.[ although we will]

I can't see how they can, unless there was some other agreement.

Does that clairfy?

Jamie-Law, Solicitor
Category: Law
Satisfied Customers: 6725
Experience: Solicitor
Jamie-Law and other Law Specialists are ready to help you
Customer: replied 1 year ago.
thank you so much,i will get in touch with them tell them the news.

All the best.

My name is ***** ***** I have been a solicitor for more than 30 years.

I am afraid that if there is a Charging Order on the property then I am afraid that they can force a sale, and they can insist on a valuation (but they cannot force you to pay for it)

What you need to do is to get a letter from the Estate Agent confirming that it is correctly priced and explaining why the viewings have not been successful