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Scottish Trust Deed Forum
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Topic starter
04/08/2012 6:23 pm
My wife and I are currently 1 year into our trust deed. Unfortunatly we have split up. We are splitting our time between the house for the sake of our son. We have 2 years left so we are going to stick it out until it is finished.
I was wondering if anyone would know that when we finish TD and we sell house, would our lender keep the mortgage going but not joint as to allow us to buy separate houses?
Thanks for any help.
04/08/2012 6:25 pm
Hi davyj.
I'm afraid I've not heard of that happening, but by all means speak to the lender to confirm the position.
Qualified Debt Adviser & Forum Administrator - Ask me anything about Trust Deeds 
05/08/2012 10:36 am
Hi davyj
If you were to sell the house, the mortgage would be repaid from the sale proceeds and would finish there. You would then need to apply for a new mortgage which would be difficult I suspect due to the Trust Deed.
Mark
Mark is not posting regularly in the Trust-deed.co.uk forum.
05/08/2012 12:57 pm
A minority of mortgages are "portable", meaning that you might be able to take them to a new property.
Taking someone off a joint mortgage reduces the lenders security though, something they're likely to be even more concerned about if there are recent credit issues.
Qualified Debt Adviser & Forum Administrator - Ask me anything about Trust Deeds
