Hi goneunder.

I think the four month extension is probably the minor issue here. Your trustee may well conclude that if this money was expected to be paid over and wasn't that an extension should result. Likewise we have heard of occasions where a trustee chooses not to extend where a missed period of payments weren't in the control of their client.

The total amount of equity that exists appears to be the major issue. There's certainly a probability that your trustee will want to further discuss with you how the remaining equity will be dealt with once the initial two year arrangement has been completed.

I'm sorry that I cannot offer you any reassurance on this. I think removing the uncertainty might be helpful to you and would encourage you to ask your trustee for answers about how things will develop from here.

Hi goneunder,

As TDA has said, your Trustee could extend it to ingather the missed payments or deem that it was something outwith your control and not.

I suspect that as you still have a large amount of equity remaining that your Trustee will extend the term to ingather the 4 payments whilst negotiations take place regarding the balance of the equity.

I realise that it must be a very worrying time for you especially as your home is involved. In terms of advice on how to approach it, the main thing you really need to do is pick up the phone to your Trustee or relationship manager and discuss the issue of the remaining balance of equity and how this will be dealt with. Once you have done this we can then provide you with some further advice as we will know what their position is.

Have they made any suggestions in the past regarding the equity and how this would be dealt with?