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Scottish Trust Deed Forum
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Topic starter
22/04/2012 3:44 pm
I had to pay a £1500 equity release fee at the start of my T.D.
I now think in hindsight this was excessive.
Anyone paid that much ??
I have heard of people paying £500 but not £1500.
22/04/2012 9:04 pm
Hi bj71.
Did you have equity in your home at the time?
Qualified Debt Adviser & Forum Administrator - Ask me anything about Trust Deeds 
23/04/2012 9:32 am
Hi bj71
Well thats a new one on me. I've heard of £500, £600, £750 and £850, but £1500 beats all of them.
Mark
Mark is not posting regularly in the Trust-deed.co.uk forum.
Topic starter
26/04/2012 7:18 am
Remortgaged house to make a one-off payment to T.D. and paid equity release payment, after all that no equity left in house.
26/04/2012 9:17 am
Hi bj71.
So was the payment because you had £1500 equity in your home at the start of your trust deed?
Qualified Debt Adviser & Forum Administrator - Ask me anything about Trust Deeds
26/04/2012 3:00 pm
I've not heard the term "equity release fee" - was this a fee paid to the mortgage lender bj71?
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Topic starter
26/04/2012 5:44 pm
House was over-valued for me to get maximum value from remortgage, then paid off mortgage with funds, and also paid my car off, and made payment of £6500 to T.D.and £1500 to insolvancy practitioner.
This was in 2007 before the housing prices crashed and was to protect against any future equity being owed on house when T.D. finished in 2010.
26/04/2012 6:12 pm
Hi bj71.
Did you make monthly payments to your trust deed as well, or was the trust deed funded just by this £6500 lump sum? I think you're saying there were also three years of monthly payments?
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