Hi Rob

When you say, renew your mortgage, can you clarify what you mean. I assume you mean moving from, say a fixed rate to a variable rate?

Mark

That is correct yes sorry didnt make it clear.

Hi Rob

You will be fine. You're not changing mortgages or anything, just the interest/terms. I don't see any real problems.

Worst scenario may be they move you to variable, but I can't see them, and have certainly never known it, asking you to go elsewhere for a mortgage.

Mark

Oh thank you, will my house be safe? we have never missed a payment or that.

Hi Rob

Yes, I can see no reason why not.

Mark

Thank you, have been having doubts about signing up because I thought I would have to sell house.

Hi rob.

Have there been any discussions with your trust deed provider about what will happen if equity develops in your house during the period of the trust deed?

HI TDA

Good point. Hopefully Rob has read through the numerous posts on the subject and gets chapter and verse on the matter from the IP before doing anything.

Mark

Thank u, awaiting contact from ip but will certainly ask this question .

Our paperwork etc has been passed onto Wilson Andrews but I am reading bad reviewes on here regarding them, would you recommend I use another company?

Hi rob.

That's probably a question best answered by our visitors and members rather than the experts.

Whichever company you choose I'd suggest you do not go ahead until you're 100% happy. A trust deed is a serious step to take and three years is a long time.

hi rob,
From my experience with wilson andrews i definateley wouldn't recommend u use them, sorry for being so blunt. I started my trust deed with them 3 years past in march and at my final review, they extended my trust deed for nearly another two years. It doesn't make any sense to me and they have made mistake after mistake. One of my friends is a partner in an insovency practitioner and has looked over my paper work and she is disgusted by the way they work. Due to their mistakes i.e. they did a computer generated valuation on the wrong car, and counted my excess income twice i need to wait more time for them to carry out what they call a mini review to correct their mistakes which means more waiting time. From looking at posts on the forum i know i am not alone in having problems with this company. Why dont you go with one of the companies that the trust deed expects on the forum are with i'm sure this would be a safer option.

Hi Rob

I assume you have had a meeting to run through all of the points of the Trust Deed and also if there are any other viable solutions.

I note from your post that you have a property and would advise that you are extremely carefull where property is concerned in all cases and all IP's. Especially if the referral to the IP came from a third party who is looking to get paid for it.

You should sit face to face with your IP and discuss ALL matters and then ensure that these matters are fully highlighted in writing before signing anything.

I think you need something in black and white which states exactly the position with equity, valuations, bonuses, overtime etc etc.

Mark

Good luck trying to arrange a meeting with wilson andrews i tried it but was told i didn't have grounds for a meeting. I have never spoken directly with the trustee, just the five assistants he has went through since my trust deed started, that said maybe things have changed you might find it different.