I agree Pamjo.

The greater responsibility should always be assumed by the adviser given their knowledge, the problem is that the consequences of poor advice fall upon the client rather than the adviser.

I remember being bemused by all the mortgage professionals statements in 2008 that things would be "back to normal in six months" despite there being no apparent reason for that being the case. Not much of a basis to tell anyone that remortgaging during a trust deed would be straightforward.

I have been caught out with this as I was told in 2010 that "we will provide a letter stating you compliance during the Trust Deed and it should not be a problem to get a re-mortgage".
This is clearly not going to be the case next year, when my Trust Deed ends and I require to come up with an equity payment.
Dissapointing and worrying to say the least !

Sadly, re-mortgaging has been a problem for several years now. Since late 2008, people should not have been getting told that re-mortgaging was easy - because it wasn't. There has been legislation in place since November 2010 that allows a person to enter into a Trust Deed, whilst excluding the family home, but as far as I am aware it is seldom used. This is because your mortgage lender has to agree to it first of all, then the unsecured creditors have to agree for it to become protected. It is unlikely creditors will agree if there is a large amount of equity in the home-why would they? The other problem is that should a person leave the house at any time ( for whatever reason) and there be negative equity, the shortfall would NOT fall into the trust deed as the house had been excluded from the Trust Deed. If you have lots of equitry, DAS is probably a better option.