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Topic starter
18/05/2009 4:49 pm
Hi guys.
Thankyou for all the advice you have given me to date. Wondering if you could help me out again. As per my previous posts, i had released ?ú23K equity from my property in year 2 of my TD(husband and I both have TDs). We have come to the end of the TD period and our trustee asked about the remaining equity. I asked for their advice given the current financial climate and they arranged a revaluation of our home which resulted in the same value as had been done 2 years previous. This would mean there is still ?ú17K equity in the property with a penalty charge from my current lender if we change lenders before July. My current lender has also advised that they will not permit additional borrowing until 3 years Post TD. I am still waiting for a response to our question re what do (since March 17th) despite numerous emails to ask what is happenning. I am really frustrated here and was wondering whether you guys could offer any advice. I feel really let down by my trustee here also as i feel they could at least have pointed me in some direction by now.
Many thanks for your response in anticipation
19/05/2009 9:35 am
Good morning magscb14,
This must be incredibly frustrating and worrying for you. The scenario of the property value not having changed over the past two years seems unusual.
I think these are points best addressed by Kevin or Mark and I'm sure one of them will be along soon to provide their opinions.
Qualified Debt Adviser & Forum Administrator - Ask me anything about Trust Deeds 
19/05/2009 4:54 pm
Hi magscb14
TDA is right, I can't believe that the property value hasn't gone down in 2 years in the current climate - is there some reason your house may have bucked the trend?
There is no easy answer to this I fear, other than telling your trustee that you are unable to raise the amount they are asking for. Forcing the sale of your home would be very much a last resort for them and you would probably be able to reach a much lower figure as a compromise, which could maybe then be paid off in instalments at the end of your trust deed?
Scottish Debt Solutions Expert - Ask me for help setting up a Scottish Trust Deed or Debt Arrangement Scheme plan.
