TD home equity percentage - Scottish Trust Deed Forum

RE: TD home equity percentage

paulp — Mon, 02 Sep 2024 20:45:24 +0000

Hi Layercake, the equity in a property should be dealt with at the start of a Trust Deed. Any interest and 'buy-out' being dealt with up front. It used to be a thing where if people's properties shot up in value over the course of their TDs that some Trustees came after this new equity. That's not allowed anymore as far as I am aware.

So if you're thinking about entering a TD, its the equity now that's relevant, not at the end of the TD. Couple of questions. Is the equity all yours or is the property jointly owned. Could the property be remortgaged.

Also, Trustees won't work on percentages. But £ figures. If there's any equity at all, they will want to see some form of contribution towards this.

RE: TD home equity percentage

CIF — Mon, 02 Sep 2024 18:00:08 +0000

I don't think there is a set percentage Layercake. I have £2,500 to pay at end of mine. It's far lower than I was expecting though, so there might not be as much equity as you think.

TD home equity percentage

Layercake — Mon, 02 Sep 2024 11:51:25 +0000

Looking for some info on what percentage does the equity needs to be where trustee won't ask for it at the end of a TD

Or if someone has a figure? all i can find online is if equity is 'substantial'

I am trying to work out if TD or DAS are my best options

for reference,

debt is £30k unsecured debt

equity is home is around £45k

thanks