Hello pamanne26 and welcome to the trust deed forum.

Out of curiousity could you let us know why you would like to be added to the mortgage when the trust deed ends?

hi TDA,

well I was thinking my credit rating is bad so we wouldnt be able to get a joint mortgage.. so if it would be possible to get a mortgage in his name then when my td ends i would want to be part of the mortgage as it would be my home as well? I hope that makes sense. thank you

Hi pamanne26,

That makes perfect sense; thank you.

You don't need to be on the mortgage to a joint owner of the home. The two things are different (ownership and mortgages).

In fact you could become a joint owner of the home when your boyfriend buys it even if you're not on the mortgage. However this probably isn't advisable as if the property increases in value it may become considered to be an asset that needs to be dealt with at the end of the trust deed.

I'd suggest that you discuss the ownership side of things with the legal advisor used for the purchase when it happens.

As for being added on the mortgage later I'd guess that this would come down to the decision of the individual lender at the time. However it would seem to make little sense for them to say "no" as there would then be two people with responsibilities to ensure that the mortgage was being properly paid rather than one (which gives them a little more security). I'd have to say that I'm not an expert on this side of things though.

thank you for your help... I did think that... do you think i am best to wait till the 6 years are up or is after the 3 enough? thank you

I think I'd just suggest that you are absolutely certain that all of the processes (after you have completed your trust deed payments) are completed and that you are discharged from it.

Being on a mortgage would certainly help you re-establish your own credit status after the trust deed is finished.

thats good. Can that process take a while after the TD ends... I am due to finish In July 2012 i think.. so once I am discharged then they cant take any value from a home i purchase...

Also if we do get a flat then I will be contributing to the mortgage/bills etc so will that be ok with the Trust deed as I am not listed on the mortgage?

I am grateful for your help.

It should only take a few weeks for everything to be brought to an end when you have completed your payments.

There's no issue with you contributing to the costs of the home. I'm sure you're doing that already in some shape or form for your existing home? Provided that it doesn't affect the amount you're able to pay into the trust deed I dont think that you should worry.

yeah i currently live at home so that is my position at the moment... thats great I have been worrying about things lol

thanks for your help tda no doubt nearer the time I will be on again thanks