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Scottish Trust Deed Forum
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Topic starter
05/05/2010 7:10 pm
as per answer below.
The Trustee will require that the amount of equity calculated previously is paid into the Trust Deed. If you failed to do so it is the Trustee that might ultimately be forced to sell your home to raise the funds.
if for arguments sake there is ?ú5000 equity in the house(or more) how would one pay that into the trust deed as i could not even pay an extra ?ú50?
thanks
06/05/2010 9:26 am
It would either have to come from a third party (eg family/friend), or by remortgaging (nigh on impossible these days), or most likely by increasing the term of the trust deed - any payments made after the 3 years is up can be attributed to equity.
Scottish Debt Solutions Expert - Ask me for help setting up a Scottish Trust Deed or Debt Arrangement Scheme plan.
06/05/2010 9:26 am
Hello maverick267,
Some people make additional monthly payments into their Trust Deed and others get support from family or friends.
It used to be that many people could remortgage but that is obviously more difficult currently.
The key to it is communication with the Trustee to find a mutually acceptable way to deal with the equity.
Qualified Debt Adviser & Forum Administrator - Ask me anything about Trust Deeds 
