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Last Updated: Monday, 6 September, 2004, 13:15 GMT 14:15 UK
Yachtswoman Edwards' home 'saved'
Tracey Edwards
Edwards' home appears to be safe
Yachtswoman Tracy Edwards appears to have avoided having her house seized to pay back a 500,000 loan.

She borrowed the cash in 2002 from Scarborough print firm boss Andrew Pindar to finance a 1.1m catamaran, giving her Berkshire home as security.

At a private hearing at Newbury County Court, the parties agreed Ms Edwards could pay back the money by means other than selling her house.

Ms Edwards, who is currently in Qatar, did not attend the hearing.

The yachtswoman, who was made an MBE in 1989 after skippering the first all-woman crew around the globe, is said to be planning two round-the-world yacht races.

'More time'

Ms Edwards' property in Yattendon, Berkshire, is currently occupied by her mother, Patricia.

After the hearing, a spokesman for Mr Pindar said both sides had agreed Ms Edwards would repay the money by 6 November.

He said: "She has got a bit more time to come up with the money that everyone agrees is owed."

A spokesman for Ms Edwards confirmed that terms for the repayment of the loan had been agreed.

"As part of the same agreement, Ms Edwards is not required to vacate her family home," he added.

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