equity release to complete scottish trust deed

ambertails

hello all, forum newbie here and desparate for some advice and or help.
We have come to the end (nearly) of a trust deed and have to release around £13k equity from our property to finalise. Does anybody know of any bank/building society or anywhere that will help me with this? I understand that in the current climate iwe might not get a new mortgage but we managed to renew our current mortgage last year by staying with our current provider who we've have been with now for nearly 6 years (they don't know we have a trust deed).
Please please somebody help as i have until 18th August to find this cash.
many thanks in advance for any help:)

antrobus

ambertails wrote: »

... we managed to renew our current mortgage last year by staying with our current provider who we've have been with now for nearly 6 years (they don't know we have a trust deed)....

Aren't notices of Trust Deeds placed in the Edinburgh Gazette? Perhaps they do know, only you don't realise they do?

What does your current provider have to say about advancing a further £13k?

ambertails

thank you for replying, maybe they do know but they did give me another 2 year fixed rate mortgage after my 5 year fixed rate ended.
I haven't asked them anything yet, they are the Nationwide. I am at present trying other options but i had just wondered if anybody knew of anyone that giving 2nd mortgages and at what rate would i expect to pay. my employer is trying to help (we are an estate agents/solicitors) so just trying all avenues just now. Really stressed about it all.:)

Anondebtadvisor

If you are uanble to release the equity the trustee can extend the trust deed in lieu of equity.

Good luck as im sure you dont want to extend but this is a common problem with trust deeds and something you trustee will be used to dealing with

ambertails

many thanks for your reply. this is what i had thought. going for another 2 years is better than having to sell or going to a friend. They will only want the amount of equity though and no more? fingers crossed really tightly!!!!!:)