Trust Deed Scotland - HELP??!!

garfield44

Hiya,

I was hoping someone may be able to help me please. My mum and I entered into a mortgage together 4 years ago as we were both in debt - Mum £40k, me - £20k. The house was originally paid off when my dad died in 2002.
Anyway I have recently tried to change the mortgage and by doing so have found out that my mum has entered into a Trust Deed as she has further debts of £20k in the past 4 years!
She has been paying £150 per month for 34 months (supposed to end in 2 months time) and I checked the balance of the trust deed and it is showing over £35k with interest applied.
The Trust Deed have been phoning her constantly to find out the equity in the house and she keeps putting them off saying that she can not get it unless I agree. The house is worth £130k with £70k mortgage (approx) meaning there is £60k equity in it. This would work out as half each - £30k each.

Am I correct in thinking that they will never discharge her from this until the house is sold and basically they now own her share of the equity?
I'm struggling myself so am thinking it is better to tell them and sell the house and make mum rent as I cant handle this anymore.
She seems to be under the impression that once her three years of paying £150.00 are up then they have to discharge her and that the property is released! I am thinking NO CHANCE but would just like someone to confirm.

Thanks in advance for helping

Garfield

AlyBaly

Not an expert but there are experts here, I am a member and find it helpful

http://www.trust-deed.co.uk/forum/forum.asp?FORUM_ID=1