Hull landlord accuses council of BMV offer

A landlord has accused Hull City Council of offering Below Market Value on hundreds of properties set for regeneration.

Landlord, Martin Reeves said: "I believe the council has attempted to purchase my property at considerably under its value and I am concerned the mis-selling of property valuations to innocent owners and members of the public is widespread."

Hull City Council valued a property belonging to Mr Reeves in October 2012 at £25,000. He rejected this initial offer and the council returned with a second offer of £40,000. 

Martin Reeves says of the sudden increase, "The only conclusion I could derive from this was that either the council was attempting to acquire my property at under value or their preferred surveyor was incompetent.

The landlord's own  surveyor, valued the property at £60,000.

Mr Reeves said: "My surveyor came up with a value of £60,000 and provided examples as evidence in support of his valuation."

The landlords valuation has been rejected by the council and the two parties are still in negotiations.

Martin Reeves is wanting to find out if any others have also suffered these derisory offers.

"What I want to try to find out is whether any other members of the public feel they too have been misled regarding the value of their property and been forced to accept its purchase and sale of their property to the only organisation that will buy it."

The council insists the offer it put forward is fair.

Read more on this landlords accusations of below market offers.