Hello Morgan01 and welcome to the Trust Deed forum

3 years ago when you finished making your payments did you pay the £4000 equity to the company? and did they issue you with documents to say your trust deed was completed?

hi
No we never payed anything to them so there was no documents.

quote:

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Originally posted by Trust Deed Assistant

Hello Morgan01 and welcome to the Trust Deed forum

3 years ago when you finished making your payments did you pay the £4000 equity to the company? and did they issue you with documents to say your trust deed was completed?

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Hi again.

The answer about what can happen really depends upon the terms of the trust deed you signed.

When did you finish making payments?

Was there any talk of equity responsibilities under the terms of your trust deed at that point?

we finished making payments 3 years ago.

at the start the equity on my house was only £4ooo an we have agreed to pay that but now the value of my home has went up and they now want £46000.

Hi morgan01.

Is this the first communication you have had about equity in the last three years?

Hi

Given the way the housing market crashed in 2008 i find it hard to believe the equity in your house has risen as much?

the people who valued my house were from the trust deed and i was already told that they would put a very high amount on it!!!

when i signed the trust deed it was £4000 equity and then the surveyor(sent from the trust deed)valued my house 1 year later and it went to £46000.

this all happened between 2006 and 2007.

This seems to be very unfair to me.

I think the equity is calculated at the start and is usually put in writing before you sign - I am not sure they can re asses the amount 3 years after the deed finished and demand it...

Plus from £4,000 to £46,000 is a massive leap - you could buy a house for £46,000 in this market so how come that's the equity in your house? Where do you live Buckingham Palace?

Sorry to hear about your troubles - and I hope you get it sorted out...

Sorry if I'm missing something.

I thought the second valuation came six years after the first?

Was there any commuication about equity after you made the final monthly payment three years ago?

hi scots lad

yes we think its unfair aswell!!the equity was calculated and put in writing before we signed the trust deed and it was £4000 then 11months later the trust deed people wanted another survey done and they said the equity was £46000.so they are now on the phone demanding the £46000 or they are gonna take my house..

no the second valuation came 11 months after the first valuation!!!

yes there was communication after the final payment, the trust deed wanted the equity of £46000 or take the house.

I don't understand this at all....if there is £46,000 equity in your house what was it valued at? And a trust deed comapny cannot take your house?!

Do you dispute that this is the value of the equity in your house?