Hi Tara.

If your trustee instructs a survey the cost is drawn into the trust deed.

It effectively means a little less of your contributions are available to your creditors.

Thank you, I got it sorted he had been sent an invoice for the survey by mistake it should have gone to the company dealing with our trust deed.

That's good Tara.

Problem solved!

Hi both

It's an interesting point as the new regulations does not allow for a pre trust deed valuation to be an expense of the Trust Deed. This can only be paid from the Trust deed if it is carried out after signing.

Options seem to be to get a friendly surveyor who will give a verbal valuation and then confirm in writing after signing ( which we do) or the individual would need to meet the cost of this. In any event, it is always wise to have the valuation carried out and the equity assessed before signing anything.

Mark

Presumably any trustee that was going to organise a pre trust deed valuation at their client's expense would have to get permission from the client first Mark?

Or, to put it another way, surely no trustee is going to expect a client to fund this part of the process other than via their subsequent contributions?

Hi TDA

It is a strange one, however I am guessing that it was designed to be a general catch all rule, re inability to pay third party/agents fees to stop one third party being paid and not another.

I think the only option will be for the client to fund it, or as described above, to get a verbal valuation and for this to be formalised after the trust deed is signed and then it is met as an outlay of the Trust Deed.

Mark