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Topic starter
01/04/2010 7:56 am
Hi just looking for a bit of advice - mum died earlier on this year and looking at her estate there will be enough in it to pay off my TD I was wondering how this actually works? -it is in the hands of her lawyers and he will be contacting the TD company i am dealing with . i have also started to pay the ?ú500 for the equity in my flat to keep it at the same value that they valued it at and that I had no equity in it either ( have paid ?ú200 towards that ) do i still need to pay that even though my TD will be paid in full in the near future please advise [:)]
lorna blackwood
01/04/2010 11:18 am
Hi marlush
You will need to pay the whole debts plus 8% interest per annum and the costs and outlays of the Trust Deed. There is no reson to pay the ?ú500.
Regards
Mark
Mark is not posting regularly in the Trust-deed.co.uk forum.
Topic starter
01/04/2010 11:52 am
Hi Mark I'm 6 months into my TD how will the 8% interst per annum work then - should I ask them if I don't need to pay any more to the equity then
lorna blackwood
01/04/2010 4:46 pm
Hi marlush
The IP will only proceed to close the case when he is in receipt of the funds to do so.
It may be an idea to find out when the money will be released and advise the IP of the position and ask him to calculate how much is required for a specific date to allow closure.
I wouldn't make any payment re the property if there is enough to pay all in full.
Mark
Mark is not posting regularly in the Trust-deed.co.uk forum.
Topic starter
01/04/2010 5:00 pm
thanks Mark got an appointment with the lawyer next friday so i should find out more then
thanks for your help and advice will let you know what happens
lorna blackwood
