Hi,
So essentially what it says in the title. I completed my trust deed March 1st. I actually paid the last of my Deed early in January. Ive been told that I will receive my letter within the next day or two (I was actually told I should have it on the 2nd of April).Â
My trust deed company (Carrington Dean) haven't been the most consistent with advice. Long story short - I need to sell my flat. My partner has bought a house (21st of Feb) and we're paying two mortgages now. We can do this short term and its given us time to renovate but we can't do this long term.Â
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How long after I receive my discharge letter can I put my house on the market? CD have told me 3 different things across 5 phone calls, from being able to discharge early if I pay my last payments to as soon as I pay my last payment to as soon as I receive my discharge letter to up to 6 months after?Â
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My problem is that the value of my flat has gone up quite a lot and I can't let the trustee have that increase as I want to use it to kick-start my debt free life.Â
Hi Hamish1205,
Firstly, congratulations on completing your Trust Deed.
On your question, once you receive the formal discharge letter, I am not aware of any time restriction on you being able to sell and benefit from equity in the property.Â
I can see your frustration about the mixed messages you're getting. The key thing to chase them on is your Form 5, Certificate of Discharge. I'd go back to them and ask them to confirm in writing that they no longer hold any interest in your property.
If you still have it, have a look at your original paperwork. This should clearly state the trustee's interest and what happens at completion.
Hopefully others more familiar can join in and help too.
Thanks a lot, it's appreciated!
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I'm struggling with Carrington Dean to be honest, they're not clear at all in what their plan is or if the 'letter' I am due is actually my form 5 or something else.Â
Once I receive that, do you reckon I can just ask for in writing that they hold no interest?
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ThanksÂ
If I recieve my form 5, are they allowed to claim any equity in my property once it sells? In all honesty I looked through my signed agreement and there's nothing that is clear one way or another. I just can't sell whilst in my agreement.