I asked a question about this in an earlier thread. It does seem to relate to this subject.

I had valuation of my house when TD started and it showed £3652 equity which I was told I had to pay. Firstly to raise that I would have had to re-mortgage at the end and that would not have been possible because of the TD. Secondly, I knew the house prices had fallen and that I was extremely unlikely to realise the equity IF I could sell the house.

I wrote to the Trustee and explained this. He said he would consider a creditable survey and a payment of £250 to release interst in th e property. I did this showing lower valuation, about 4-5 month before the end of the TD. I made my final payment in August and today received a letter that he would accept the revised survey and I should make the £250 payment.

I know that the advice I received on here was to consider carefully whether to pay the £250 or not. I am aware the decision is at the Trustee's discretion and if I am honest I appreciate that he was prepared to consider the revised survey. The 'release payment' is roughly equivalent to one additional payment.

It would seem as if my TD will be finalised soon and I can move on positively from here. What a relief it will be when the final paperwork comes through. Never again!

Then surely this is a problem we are in a trust deed because of the debt we have and there is no other way out and money is tight. With some saying you must pay the £500 and others saying you do not should this not be looked at. Surely everyone should be doing the same thing.

I didn't pay any up front fee and asked my Trustees to revalue the property at the end as I knew the value would have fallen and they said this wasn't an option, funny how when they know the value has gone up they are prepared to do it......

Good for you Firewalker.

In the circumstances you describe it does appear that your trustee has been very flexible and fair with you.

Hi piper2009.

You may well be right.

In any industry though businesses may go about things in slightly different ways.

As things stand we just try to point out information that helps people to make decisions that are right for them.

Hi WIKIKEE.

It should all depend on what is agreed at the start.

If the equity position isn't fixed at the start a trustee will be obligated to investigate whether equity has developed. Appointing them is an act that obliges them to raise what they can for the creditors under the terms of the trust deed itself, the law, and the regulatory guidance they must work to.

Worth remembering that the fees are agreed by all parties at the start. A trustee will not generally have any/much self-interest in reviewing the equity in a home.