Anyone use deedoftrust.co.uk?

Rheys99

I will be having a Declaration of Trust drawn up for when my friend is added to a my current mortgage...has anyone dealt with this company before. Mixed reviews online so I thought i'd just ask around...

Mutton_Geoff

I used them recently, very fast, good communications, amended document to my specific needs and very competitively priced.


The only thing I won't know unless it is tested is the watertightness of the agreement but as far as the firm is concerned, it all went well and I would recommend them.

Tom99

How much do they want to charge you?

Mutton_Geoff

Tom99 wrote: »

How much do they want to charge you?

From their website - "Our bespoke drafted deeds are offered at a fixed fee guarantee of £150 plus fixed Disbursements of £30 meaning a grand total of £180"

That's what I paid, nothing more. The deed arrived very attractively printed and bound too!

getmore4less

Did it cover

How the property is owned and the debt paid.

how maintenance and improvements get paid.

What happens if one person can't or won't pay either temporary or permanent.

How overpayments on the debt are to be managed especially when different sizes

Sale trigger.
Buyout triggers
How to agree a prices and what fees get included.
Times scales on buyout that then has to go to sale.
Time scales on one person being able to reduce the price if not selling.

Deaths of either party.

what happens if one party wants to move out
what happens if one party want to sublet.
.........

Mutton_Geoff

getmore4less wrote: »

Did it cover ..

How the property is owned and the debt paid. YES

How maintenance and improvements get paid. YES

What happens if one person can't or won't pay either temporary or permanent. NOT RELEVANT IN MY CASE

How overpayments on the debt are to be managed especially when different sizes. NOT RELEVANT IN MY CASE

Sale trigger. YES

Buyout triggers. YES

How to agree a prices and what fees get included. YES

Times scales on buyout that then has to go to sale. NOT RELEVENT IN MY CASE

Time scales on one person being able to reduce the price if not selling. NOT RELEVANT IN MY CASE

Deaths of either party. YES

What happens if one party wants to move out. YES. Also what if one party wants to sublet or change ownership of asset mentioned in deed.

What happens if one party want to sublet. YES

martindow

Mutton_Geoff wrote: »

How the property is owned and the debt paid. YES

How maintenance and improvements get paid. YES

What happens if one person can't or won't pay either temporary or permanent. NOT RELEVANT IN MY CASE

How overpayments on the debt are to be managed especially when different sizes. NOT RELEVANT IN MY CASE

Sale trigger. YES

Buyout triggers. YES

How to agree a prices and what fees get included. YES

Times scales on buyout that then has to go to sale. NOT RELEVENT IN MY CASE

Time scales on one person being able to reduce the price if not selling. NOT RELEVANT IN MY CASE

Deaths of either party. YES

What happens if one party wants to move out. YES. Also what if one party wants to sublet or change ownership of asset mentioned in deed.

What happens if one party want to sublet. YES

Aren't some of these you've listed as not relevant things that really should be covered? If the two people fall out for any reason, or one is in debt in the future they could be very relevant I would have thought.

Mutton_Geoff

martindow wrote: »

Aren't some of these you've listed as not relevant things that really should be covered? If the two people fall out for any reason, or one is in debt in the future they could be very relevant I would have thought.

Of course, however, I have accepted that there are some circumstances where my loan would be written off because it would not be worth pursuing it in such situations.


I'm not keen to provide more information about the reason for the deed on a public forum but am quite happy that the document provides enough understanding between us and whatever the "reasonable" future may hold.