Hi piston broke.

You'll need to check with your trust deed provider exactly what you signed up to.

If they've done a valuation, will not do another valuation, and the extension covers the amount of equity they assessed exists, it should be fine so long as you keep your side of the agreement.

thanks TDA - I've just been trying to get as much info from this site as possible but sometimes I feel as if I'm drowning in jargon.

Hi piston broke,

All advisors and firms should know the criteria for the acceptance of a Trust Deed. As long as your case meets the criteria then your Trust Deed should achieve protected status.

If your Trustee has established the equity in your property and it's been agreed that you will continue making payments after the 36 months then this should take care of the equity in your property. You effectively have 24 months to pay over the available equity in your property.

Are you financially able to pay the equity over in the 24 month period? For example if you have £4,800 of equity and you pay £200.00 for 24 months the this will pay over the equity in the property.

As TDA has advised, as long as you are able to pay over the equity and stick to your Trust Deed proposal there should be no problems.

If you are unsure about anything at all give your relationship manager a call or drop into the forum and we will all be happy to help.

There a lot of success stories regarding Trust Deeds and if you look back over the last couple of months these should give you the reassurance that Trust Deeds do work.

Sorry about all the jargon, piston broke - unfortunately I think insolvency professionals are often among the worst offenders for this.

It sounds as though your house is safe as long as the equity is paid over in years 4 and 5, but you if you are not sure then it is only your trustee that can give you a proper answer.