Welcome to the forum Snowman.

Is there any equity due to the trust deeds? While you remain undischarged you'll need the consent of your trustee to sell the property.

You'll need to cancel a standing order, perhaps after checking your final payment is made.

You could ask your mortgage lender whether the loan is "portable" and whether there are conditions attached if it is.

There is/was no equity. My parents paid £500 as a 3rd party for the house

Hi Snowman.

Best to check this with your trustee I think, unless you both conclude that it might be more straightforward to sell the home once you've been discharged.

You'll need consent before then, and your share of any profit generated might have to go into your trust deed.

I think it's a good point, as the Trustee will need to agree any future sale and sign the disposition while the Trust Deed is still live.

Once you have been discharged, the Trustee is under an obligation to remove any inhibition over the property by issuing Form 14 at the time of your discharge. This will allow you to proceed with the sale without their consent.

Apart from the above, making the final payment appears to be the only matter which will need to be dealt with.

Mark

Hi

That's a couple of times now that I have read about Form 13 or lifting an inhibition on the property before someone is discharged. I had not heard of it before.

I was discharged last year. £250 had been paid to secure the house (I was in negative equity anyway).

Should I have had any papers to release my home / lift an inhibition on my house? I received form 5 in August 2013 a year after payments finished, but nothing to do with the property. I do not know if my trustee has been discharged yet.

Do I need any paperwork in the event I wish to sell my home?

Thanks.

Hi Firewalker.

I think this is just work that goes on in the background rather than being something you're specifically notified about.

Hi Firewalker

TDA is correct, the Form 14 is a procedural matter which requires to dealt with at the time of discharge. It's not something you would necessarily be advised of.

Mark

Okay - thanks for clarification [:)]

Hi Snowman,

If you did make an overpayment in respect of your monthly payments then this will be refunded back to you.

Best thing to do is give your Trustee a call to see when your last payment is and then cancel the standing order/direct debit yourself to avoid any overpayment.

I've since called them and my advisor has changed but I was told there was still £600 to pay. Don't know how they work that out as I've never missed a payment. Been waiting on a call back as I asked them to check. I was told it could be due to records needing updated.

Hi Snowman.

Once they've updated your records you can ask for a schedule of your payments to them to reassure yourself that you agree on the figures paid thus far.

Hi Snowman,

Depending on how quickly your Trustees system updates there can sometimes be a 7-14 day period in which you've made a payment but it doesn't show on their system.

As TDA has suggested, ask for a print out of all your payments that they have received from you. If you are in any doubt about the amount you have paid and the amount which is showing on your payment summary you can refer to your bank statements to confirm what you've paid.

Sometimes my clients have overpaid or underpaid coming to the end of their Trust Deed. Sometimes it can be because the client signed a Trust Deed in January but didn't start payment till the end of February or even into March. As they signed in January they phone me 3 years later in January telling me that have completed the term but when I check their case they have one or two payments outstanding.

Let us know how you get on with things.