- Thu May 24, 2012 6:36 pm #22405
my husband and i have at the moment a trust deed and have been paying for 19months. it is due 2 finish in may 2014 and we have £6750 left to pay. we paid out at the start the equity on our property to the value of £7000. the total amount of debt was £25000 and roughly will be paying back £21000. due to ill health my husbands insurance policy has paid out to the sum of £96000 this covers the full amount of mortgage left to pay. the trust deed company at moment are waiting to hear from insurance company to see if there is a surrender value to this policy and are unaware at present they have paid out in full. what happens now? can they take the full £96000 or just what is left of the debt to pay?