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Scottish Trust Deed Forum
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Topic starter
23/10/2014 12:58 pm
We live in Scotland. My Mum owns her home, (no mortgage). We contacted a Financial Adviser re ER. We went to the Solicitors yesterday and were not happy about the terms and conditions.
If my Mum goes into Long Term Care the house must immediately be sold.
When my Mum dies I basically get up to 1 year to sell the house or the insurance company steps in and re-possesses.
After 18 years we repay £67,000 then jumps to £87,000.
Is there any way to release money from the house without all these terms and conditions?.
Can the house be in my name (Trust Deed)?
Both myself and my mum are now at our wits end!!!!!.
Please help!!!!!
23/10/2014 1:11 pm
Welcome to the forum brownd.
I'm afraid that nobody here can give you specific advice about mortgages or equity release mortgages. You'll need to speak with a suitably qualified and regulated financial adviser.
Qualified Debt Adviser & Forum Administrator - Ask me anything about Trust Deeds 
23/10/2014 2:16 pm
The type of Trust Deed we advise on in this forum is a Protected Trust Deed under Scottish insolvency law. It doesn't sound like this is the kind of advice you need.
I'd recommend you seek legal advice, Denise.
Scottish Debt Solutions Expert - Ask me for help setting up a Scottish Trust Deed or Debt Arrangement Scheme plan.
Topic starter
23/10/2014 2:38 pm
Thank you for the prompt reply.
My Mum is 70, would re-mortgage be an option?.
Thanks
23/10/2014 3:29 pm
Hi Denise.
Again, that would be a question to put to a mortgage broker or financial adviser.
We've no particular expertise in this area and are not regulated to give advice.
Qualified Debt Adviser & Forum Administrator - Ask me anything about Trust Deeds
23/10/2014 3:38 pm
Why is she trying to release funds? Does your mum have debts that she needs to clear?
Scottish Debt Solutions Expert - Ask me for help setting up a Scottish Trust Deed or Debt Arrangement Scheme plan.
