Hopefully they'll help me towards a new future 🙂

Hi Edd

Their interest in the property extends to what they get from the sale. Whatever your choice they cannot chase you for any balance whatever happens.

Mark

Hi , they've finialy got back to me snd said they wont be giving me any resettlement fee from the equity , wot should i do ???

It is going to be much more cost effective for them given that you are complying fully with them. Maybe you should state that a resettlement amount is a pre-condition of the deal?

When i spoke to them them i said if i continued to pay the morgage , and do viewings of flat while it was for sale on the market , i'd be wanting a resettlement fee .
They got bsck to me saying that they dont need do to this and want 100% of the total equity once the flat has sold

Hi Edd82.

I guess some people would be less willing to be helpful in such circumstances.

Is there any need for you to pay the mortgage then Edd82? Couldn't you use those funds to help with moving costs instead?

Is there any risk of negative consequences from the trustee Kevin?

I cannot really see it, but Edd82 might be wondering.

I'm planning on moving in with my girlfriend anyhow to start saving for our future , if I can stop paying the morgage once I move out this will Defo be enough to help moving costs etc .

But am scared that I would end up in arrears and don't want to get into debt again , if any one knows if a trustee needs to pay the morgage once they move out or have any info please let me know

Hi Edd82.

The point is that the trustee seeks to sell the home, so mortgage arrears will only eat into how much cash they generate from a sale.

From your point of view such arrears are covered by your trust deed.

Cheers for the reply , if thats the case i'll contact them to tell them to arrange to pick up the keys , should i contact the mortgage company to let them know ?

You can contact the mortgage company if you wish, though I'm not sure it will make any difference - they will undoubtedly tell you that you need to continue to pay the mortgage regardless.

Yeah thats true , the arrears will be added to what mortgage us left so when the house is sold
It will be paid off anyhow , thanks for all your help 🙂

Hi Edd

I'm amazed at the Trustee's approach to this, especially given the figures involved.

At least if you have completed the Trust Deed they can't hike up your contribution payments if it's only the equity to be bealt with. In effect, they will be left to dael with mortgage company, utilities and estate agents which will probably cost them more in the long run rather than being reasonable.

If you are moving out, please ensure all matters are fully recorded and when you vacate, take final meter readings to go to the utilities plus Trustee. Apart from that, I dont see any issues.

Best of luck for the future.

Mark

Hi mark, i know its unreal , as you said am so happy about finishing the trust deed , am planning on moving out by the end of the month , do you think i should pay this months mortgage ?
Thanks for the advise about meter readings etc , i'll defo be doing that