PTD Bulletin - Autumn 2024

Scottish Government – Shared Equity Scheme

The team have received some correspondence relating to trust deeds for the above. For all SG shared equity scheme trust deed correspondence, please email an attachment to Shared Service aftersales (not a link to a shared server). 

Form 2 workflow queues

Please ensure that you are regularly monitoring the Form 2 Received workflow queue for registered creditors submitted claims on ASTRA.

IP users have the functionality to adjudicate submitted claims on ASTRA. By using the Form 2 received work queue, IP users can accept, reject and return for further information. Once a decision has been made on the claim, it will be removed from the Form 2 received queue.

Users will note that they will have access to additional workflow queues relating to the Form 2, such as received, submitted, accepted, rejected, returned for further information and resubmitted.  We recommend you also check these regularly to ensure that any actions required are dealt with swiftly.

More information on this functionality can be found in the ASTRA User Guide which can be found on ASTRA. 

Validate button 

The validate button is often used by users when completing statutory forms on ASTRA to highlight any issues which may prevent the form from being submitted.

Unfortunately, this action has caused some intermittent issues. Whilst this is being investigated, we recommend the validate button is not used in the meantime. The submit button incorporates an auto validate functionality and this will also highlight errors prior to the submission of the form. 

Common Form 3 returns for further information

The team have noticed that Form 3's are being returned for further information regularly for common issues. We have provided a list below to raise awareness and help alleviate these returns wherever possible.

Form 2A – Income and expenditure

Gas and electricity evidence

AiB regularly update the Common Financial Tool Notes for Guidance to take into account Ofgem energy price cap announcements. Please keep an eye on the updates to ensure that you are able to provide evidence if the expenditure exceeds the amount in the guidance.

From the 1st of October 2024, the team will require evidence if the expenditure exceeds £143.

Breached trigger figures

If any of the trigger figures have been breached, please ensure that the correct statement has been selected and a full explanation is provided at the bottom of the Form 2A.

Other income or benefit

If there is an amount included within the other income/benefit section of the form, please ensure that you provide note where this income is coming from. There is a space available on the Form 2A for this information.

Increase of contribution

If a debtor proposes to increase their contribution during the term of their trust deed, such as when a hire purchase agreement ends, please record this as an ASTRA note to make sure it is clear that this is what has been proposed. It would also be helpful if you provide a calculation.

Form 1 and trust deed documents

Previous addresses and names

If a debtor has not lived in a property within the last 5 years, there is no requirement for this address to be included on the trust deed document or advertised on the Form 1. On occasion the address has been included on the document but not advertised, the team are then returning the Form 3 for further information.

When completing the Form 1 on ASTRA, please ensure that all the debtor’s names and addresses have been advertised as shown on the trust deed document.

Creditors on ASTRA

List of creditors

Please ensure that you select all creditors on ASTRA as shown on the list of creditors before submitting the Form 3 for protection.  

Creditor objections

If a majority creditor has overturned their objection, please upload the relevant evidence to ASTRA when the Form 3 is submitted for protection.

Form 3 errors

Debtor property information

Please ensure that the debtor property information section of the Form 3 is completed correctly. Please select either yes or no from the drop down menu.

The total amount of the debtor’s share of equity in property should also be entered. The equity figure should represent the full amount of equity excluding any costs of sale and should match the equity figure on the assets and liabilities.

If there is negative equity in the property, enter £0.00.

Equity statement

If the full amount of available equity in a property is not being realised please provide the equity statement in full on the Form 3 on ASTRA. Please remember the statement is required for both AiB Form 3 and the Form 3 sent out to creditors. If the equity statement has not been included in either or both documents, the trust deed will not be protected.

Form 5 – Debtors discharge

The team have noticed an increase in the number of Form 5's being returned to the trustee for further information, which in turn, causes delays for the debtor and increased administration work for the trustee and team at AiB.

Should you apply for the debtors discharge for the following reasons, please ensure that you provide additional information when submitting the Form 5:

• creditors paid in full with statutory interest – either an ASTRA note confirming or a copy of the circular issued to creditors should there be any variations
• due to extenuating circumstances – a copy of the circular issued to creditors, a copy of the evidence used to determine the extenuating circumstances (if appropriate) and an ASTRA note confirming of any objections

In addition to the above, it may be helpful to highlight some of the most common returns.  

• a Form 5 is submitted following either an approved PTD Protocol application or Form 5A. Please provide a note explaining the reasons for the change in decision on debtor discharge.
• the debtor has had a change of circumstance, however, there has been no explanation as to what this change has been and no reference has been made to the debtor’s co-operation. It would be helpful if an ASTRA note can be provided with this information.
• if a debtor has passed away during the term of the PTD, please provide a copy of the death certificate or an ASTRA note confirming that you have had sight of the certificate. Please also note that following the commencement of the PTD Regulation Amendments, should the debtor have passed away before 48 months, the process under Section 184B must be followed before a Form 5 can be submitted.

If the above information is not provided, the team may return the Form 5 for further information.