Did you have equity in the house when you started the trust deed? This is usually the reason why it would be extended and should have been explained to you before signing so I think you need to find out the reason for extension and if that’s the case then I’m sure you or a third party can pay whatever the extra amount is to finish the trust deed but will still sit on your credit file for 6 years from signing.

I’m no expert but definitely contact your trustee to clarify the reason and amount on extension.

Thanks for getting back to me, I had very little equity (less than £2000) now I've come to realise that I have 19 months of extra payment of £250. I have already done without for years and I genuinely thought I'd be able to save some money for a change and was told by the advisor of the TD that I would be paying back pennies for the next 12 months, but to hear this is a major set back and I'm absolutely devastated. The RD are quick at increasing payments if you work overtime but are not willing to reduce even though my circumstances have changed massively

Hi there Navrig

The level of payment is assessed using the common financial statement. The Trustee does not have discretion regarding overtime.

I would certainly question the equity payment with your trustee. When you signed the deed, did you sign a form 1B agreement in respect of the property?

Hi Paul. Yes I did, but was unaware that I had signed it. My wife asked for a copy of the contract as the only paperwork that we ever received was stating 48 months. The copy she received says that form 1B was signed

Have you seen a copy of the actual Form 1B itself, Navrig? If not, you should definitely ask for it and check that it does show the same as what you are being asked to pay.