Zero valuation on HS2 property an ‘admin’ error
The Woolwich building society has said a ‘zero’ valuation of a village property in the shadow of the proposed HS2 line was an ‘administrative’ error.
It was reported last week that blind, 97-year-old Elfrida Harper-Tarr had her home in Turweston on the market for £275,000 but a potential buyer failed to get a mortgage after The Woolwich valued the property at £0.00.
The pensioner needs to sell her home to fund residential care, but the Woolwich said this week: “The situation is that this was rejected for lending purposes, but that was due to other considerations, specifically its valuation.
“The valuation which appeared as zero was an administrative error and a new valuation has been given.”
The house falls within 450 metres of the proposed high speed rail line but outside the 120-metre boundary proposed for automatic compensation by the Government.
In August Ms Harper-Tarr left the property for residential care, which is costing £3,500 a month, and her family said within three months the money will run out.
The house was due to be bought by a couple who live in the same street but were also understood to be facing mortgage issues on their own home because of the HS2 plans.
Stop HS2 Campaign coordinator Joe Rukin said: “The government has turned a blind eye to how property blight effects the lives of real people and how it will effect the economy because it doesn’t want to hear anything bad about HS2. They have to take steps to compensate anyone experiencing loss fully.”
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Weather for Banbury
Thursday 23 May 2013
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