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Scottish Trust Deed Forum
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Topic starter
29/07/2010 7:15 pm
I just read a comment wherby the person was having difficulty raising the ?ú8000 at the end to cover the equity . i will be in a similar position in Dec 2011 except i need to raise ?ú22 000. What can i do ? I am worried i won't get a remorgtate and will aually lose my home.
30/07/2010 9:51 am
Hi goneunder,
I'm afraid the answer is probably that there is little you can do today.
None of us know what the situation regarding property prices and mortgage lending criteria will be at the end of next year. Therefore we cannot predict whether remortgaging would be a possibility, though it would certainly be very tough today.
Some people make additional monthly contributions to their Trust Deed to cover the equity but unless your monthly contribution is very high this wouldn't seem suitable for you due to the significant equity figure.
Other people are lucky enough to get some help, often from relatives, to make the payment covering the equity.
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