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Scottish Trust Deed Forum
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Topic starter
24/08/2010 4:34 pm
i am just coming to end of my TD, but at the begining of my TD, i was told that the equity in my house would need to be released at the end. a valuation was taken at the time, but i was told that another one would be done at the end of TD to get a proper updated valution, and this figure would be used. i have now recieved a letter saying that the original valuation would be used and i need to pay half of ?ú15,000 equity to be discharged from TD. but surely if the value of my house has decreased, (which it has by ?ú9,000 meaning theres only ?ú6000 equity now) then i should only pay whatever equity there is now.
24/08/2010 4:38 pm
Hi davidshazblue and welcome to the forum.
If you were told that the property would be revalued by your Trust Deed company I think that you should demand that this now happens.
Have you tackled them on this at all yet?
Qualified Debt Adviser & Forum Administrator - Ask me anything about Trust Deeds 
24/08/2010 5:32 pm
Hi David
Do you have anything in writing to confirm the later value would be used.
Mark
Mark is not posting regularly in the Trust-deed.co.uk forum.
Topic starter
24/08/2010 9:30 pm
HAPPY DAYS!! TD company returned my call and said after reviewing my case, and something about 85% value, that i only need to release ?ú1,250 to be discharged from TD.
thats a result. cant remember exacly what they said was just so happy with the new figure. i have asked them to put this in writing to me.
25/08/2010 9:47 am
That's really good news davidshazblue.
You must be very pleased and relieved?
Definately the right thing to do to get it all confirmed in writing as well.
Qualified Debt Adviser & Forum Administrator - Ask me anything about Trust Deeds
