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Scottish Trust Deed Forum
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Topic starter
24/08/2014 11:16 am
Hi. I'm just panicking about something that is probably nothing but just need a wee bit advice.
We are 3 years into a 4 year TD.
When we entered it we were told about equity and paid £500 to negate the interest in the property.
The mortgage is solely in my name and is not joint with my husband.
I have a letter saying that there is no interest of gaining equity from the property but the question is should my husband have a letter too?
The £500 that was paid was for the property as far as in aware and not per TD holder.
I'm just worrying myself that we should have paid 2 lots of £500 bit I don't ink that's the case.
Ease help put my mind at rest! #128542;
24/08/2014 12:50 pm
Hi Indebt999.
I think most firms that charged this £500 only did so once for a couple entering trust deeds, but we did hear of a couple that would charge it twice.
I doubt there's an issue, but checking with your trustee will hopefully fully put your mind at rest.
Aside from the mortgage, are you the sole owner of the property? If so I cannot see any problem at all.
Qualified Debt Adviser & Forum Administrator - Ask me anything about Trust Deeds 
Topic starter
24/08/2014 12:56 pm
The mortgage is on my name only even though I'm married and my hubby lives here.
I'm just panicking.
I'll get in contact with them but was just looking for some reassurance.
24/08/2014 2:13 pm
Hi again.
Property ownership and mortgages are different things.
Is it just your name on the title deeds? If so there's no issue that I can see.
Qualified Debt Adviser & Forum Administrator - Ask me anything about Trust Deeds
Topic starter
24/08/2014 3:24 pm
I think it is TDA. I'm sure I can remember the other half having to agree to me being owner.
Typically can't find title deeds!!
Thanks for your replies.
24/08/2014 3:53 pm
Hi there
If the property is only in your name, then the £500 payment can only be charged once as it is not an asset in your husbands trust deed.
I'm sure it will be fine with the payment already made.
Mark
Mark is not posting regularly in the Trust-deed.co.uk forum.
Topic starter
25/08/2014 2:52 pm
Hi. Spoke with Case administrator today who told me that they were not interested in my property and that the £500 paid was for the property and would only require to be paid once per property.
This has eased my anxiety with regards all of this.
Thank you again for your help.
26/08/2014 8:19 am
Hi Indebt999
Glad it all worked out.
I might just buy the domain for your forum name. Sounds like a debt help website!
Mark
Mark is not posting regularly in the Trust-deed.co.uk forum.
Topic starter
26/08/2014 12:18 pm
Help yourself Mark!
Thanks again for all the help that is given on here.
26/08/2014 12:18 pm
No problem, always glad to help.
Mark
Mark is not posting regularly in the Trust-deed.co.uk forum.
