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(@buffytennant)
Active Member
Joined: 14 years ago
Posts: 15
Topic starter  

My partner and I are are due to complete our TD at the end of the year. We have been told that the TD is to be extended for 3 months to let the Trustee realise her interest in the equity in our property. This will require us to pay the additional admin fees. The property has reduced in value since its original valuation and the houses where I live are not selling (my neighbours home has been up for sale for 18 months and had very little interest despite it being a very nice property). I have 3 questions. Is this normal to extend and have to pay the fees? Do I have realise the same level of funds from the proeperty even though it probably isnt there any more? If I can't get anyone to provide us with a mortgage and we can't sell can anyone tell me what to do if you've been in a similar postion and how to overcome this? I hope this makes sense.


   
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TDA (Debt Adviser)
(@tda-debt-adviser)
Illustrious Member
Joined: 16 years ago
Posts: 13594
 

Hi buffytennant.

Is this to do with a ยฃ500 fee (or another sum) to protect any equity that might have developed in the property?

Are you being asked to pay a set amount for the equity in the home?

Was there any equity in the property when the trust deed began?

Qualified Debt Adviser & Forum Administrator - Ask me anything about Trust Deeds


   
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