Hi

My husband and I esch too out a PTD last January. As part of it, we agreed to pay £500 each to cover the equity in our home (judged as around £3k from a valuation). We submitted a mortgage redemption statement at the time - showed a figure of £191k.

Out the blue today we received a letter stating they got a redemtion statement last February (which due to an admin error, was placed in our file..) and showed the redemption figure as £187k. they are therefore saying we need to pay the available equity of £7,616 for creditors!

Having looked at our mortgage statement, the £191k figures includes an early repayment amount of nearly £4k - therefore totalling what was originally supplied. The £187k is the actual mortgage amount outstanding. I am sure at the time we were told a redemption figure could and should include this.

My questions are;-

- as we signed the PTD showing the equity figutes and stating £500 each would discharge the trustee's interest, how can they still come back and demand extra like this?

- how come suddenly we would have to pay the full amount - ie initially £500 each was enough to discharge the £3k equity - but now they want the full £3k plus what they believe is the additional £4k 'equity'?

We are obviously going back to them on the basis that we believe their figures are incorrect as above, and so I hope this is all an error.

However it concerns me that they would do this - I'm a week overdue wth our baby and the letter really upset me. Also, we have absolutely no means of getting £7k - so what would we be expected to do? Would we have an recourse over the way this has been handled?

Thanks in advance for any help.