Hi Ambertails

well done on completing your contributions. Your main worry is now the equity. Sadly, it is extremely difficult to get remortgage these days...even if you have not been in a Trust Deed. The criteria for lendong has changed, and tightend up so much over the past few years. I would suggest asking the Trustee if you could extend the contributions to make up the equity( this will depend on how much you can pay per month, and how long it would take); or is their any third party who could help you out, and you could then repay them? Maybe a relative?

Hi Shona many thanks for getting back to me. I'm lucky enough that i work for an estate agents/solicitors so they might be able to help me get the remortgage (might being the magic word here). Just getting stressed as my house was valued at £115k 3 years ago and i'm pretty sure that it won't be valued at that today. I may have a friend that would help but i'll go down the remortgage route first. Just trying to stay upbeat about it. My fixed rate mortgage came to an end last year and i managed to stay with my current provider. I'll keep you all updated.

How much equity is in the house?

Paul

Hi ambertails.

I'm afraid it's quite likely that an equity releasing mortgage will be unobtainable given the state of the mortgage market currently.

No harm in trying, but it might be worth investigating other options at the same time.

many thanks TD advisor, i think having explored many other avenues i'm having to go back to KPMG cap in hand and ask for an extension to the deed.
If they agree will they only be looking for the £14k that's in the equity? or will they look for more?

many thanks in advance [:)]

If £14k was agreed at the start then I see no reason why this should change, ambertails. Did they get a valuation done at that time?

Hi Kevin,
many thanks for your reply. Yes they did get a valuation done at the time.