Hi littlemo.

A trustee will forcibly sell a home as an absolute last resort where a client cannot complete their obligations (releasing equity) any other way.

Your trust deed, as you describe it, has no obligations regarding equity provided that you complete it.

Thanks Trust Deed Assistant, just wasn't sure of whole proccess and all these scary stories concerning equity, thanks for clarifying:)

Ps sorry trust deed assistant just one more question but could the new trustee change my original deal ?

They'd need to be ready to justify why that was necessary and reasonable littlemo.

Usually there would be no reason to do so.

Hi littlemo,

AS TDA has advised a Trustee will only consider the sale of a family home as an absolute last resort and there needs to be sufficient equity to cover the potential legal costs of this and return money to creditors. There are a lot of variables to take into consideration when considering this option especially as it's a ÔÇ£family homeÔÇØ.

From what you describe you had substantial negative equity at the start of your Trust Deed and unless something has went completely wrong with the setup of your Trust Deeds (and I think this will be very unlikely) then I don't think you have anything to worry about.

There are some stories on the forum about people experiencing difficulties regarding the Trust Deed and their property but as I've said on a previous topic you really shouldn't compare your situation and Trust Deed to anyone else's. Trust Deeds are very much an individual tailored arrangement.

If your new Trustee wanted to change anything within your Trust Deed then they would need to justify this. Your Trust Deed can't just be changed to the sake of it. Any decisions need to stack up and make sense.

If you're worried give your new Trustee or relationship manager a call to speak with them.

Thank you for all your replys:)

Just an observation from my checking my paperwork there, i said previously that my equity details ie no further valuations etc were on my trust deed proposal but having just checked these details are actualy on my signed review of financial affairs by the trustee with the trustee stating that house has been valued at £@#@## and no further valuations will be carried out over 10k neg equity and this would be the amount taken into the trust deed and once paid the trustee would discharge their interest now sorry again but because its on our review of financial affairs and not our trust deed proposal does it make any difference at all, sorry for being so pernicity:)

Hi littlemo.

It's still a pretty clear written statement of the intentions of your trustee.

Thanks TDA...phew:)