Right. Things seem to be moving along for me. I am waiting on the Trust Deed proposal coming through (we are going with a well know firm from on here ÔÇô will let you guess which one until it is all signed and protected 😉 ). I have opened my bank account with an independent and my wife is just waiting on her conformationÔǪ

My last salary goes in on the 31st Jan to my old account (where part of my debt is) which will be pulled out the account and put into my new account so they can't arrest he full value etc when the loan payment bounces (as entering in to the trust deed). Im prepared for all this, the calls chasing the money etc while the deed is being set up etc.

My only wee niggling concern for me is regarding my mortgage. It's in joint names and the companies estimate (using a company that knows our area well) places the value at £5k less than my mortgage. The firm we have using said they will not express an interest in the property because of this as we will get this in writing. I asked several times during the initial meeting what happens if the property goes up in value during the trust deed and we end up with 20K equity (it's not likely but you never know). I have been told as they will have advised there is no interest in the property at the start of the trust deed this will be the same at the end and the equity will not come into it. I asked about the £500 and was told there was no need for this as we will have a letter confirming this at the start. Reading the forums on here suggests a number of possibilities on this being the case or not.ÔǪ

So, experts, Kevin etcÔǪ. Is this the case or should I push the £500 payment to secure the interest on the house. What do you do as part of your TD set ups in this case?

Regards
Colski