Notifications
Clear all
Scottish Trust Deed Forum
3
Posts
3
Users
0
Reactions
1,451
Views
Topic starter
20/04/2011 6:27 pm
Hiya folks!
Im 1 year into a 3 year protected trust deed but somewhat confused about the whole equity thing. At the start of my protected trust deed i had no equity in my property and trustee says that the equity"has been realised"..what does this mean??
Im concerned that at the end of the TD the property may be re-valued and i may be forced to sell.
Contacted the trustee as i was hearing about people paying £500 to avoid this from happening but he says thats not necessary as the equity has been "realised"....can anyone clarify??
Thanks in advance! [:)]
20/04/2011 9:52 pm
Hello Gopher68 and welcome.
"realised" would normally mean that it has been dealt with I would assume, perhaps because the creditors accepted that the house would be left out as there was no equity.
Not every company charges that £500. The three companies featured on this site don't charge it but still provide the same services where there is no equity at the start of the trust deed.
I'd still double check that there will not be another valuation later, but hopefully it's nothing to worry about.
Qualified Debt Adviser & Forum Administrator - Ask me anything about Trust Deeds 
22/04/2011 9:18 pm
Sounds like there should be no problem - but might be worth getting it in writing.
Scottish Debt Solutions Expert - Ask me for help setting up a Scottish Trust Deed or Debt Arrangement Scheme plan.
