It might be possible to finish early, but it would be up to your Trustee and there is no guarantee they would agree. Even if they are willing to agree, I think it is unlikely to save you any money.

Hi mccannrfc

As Kevin says, this is something which only the Trustee can agree.

Many trustees are reluctant to settle early as this reduces any possible windfall through the full period of the Trust Deed or for any change income etc which may lead to an increased contribution.

Mark

Hi Graeme,

I settled my TD 6 months early, it was a simple process of just asking my trustee over the phone. I had to pay the total outstanding which was fine, I was just elated to be free 6 months early. Hope this helps.

Greg.........

quote:

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Originally posted by mccannrfc
[br]Hi there,

Signed my trust deed in October 2012 and my girlfriend has offered to settle my trust deed now rather than when I get discharged in November. Am I able to settle early and would I save money doing so?

Thanks

Graeme

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It's only something which your Trustee can answer as others have pointed out but there is no harm in asking.

Greg asked the question and got discharged 6 months early so you never know.

If you do ask your Trustee let us know how you get on.