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Scottish Trust Deed Forum
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Topic starter
03/03/2018 1:30 pm
I am having real complications with my neighbours and the situation is very stressful regarding noise. The council are involved but, nothing is getting resolved. they own their home as do I.
Can I sell my property whilst in a TD and use any capital after mortgage paid to buy another with my new partner(in his name)as hard for me to get a mortgage.
Would the TD take the capital? or can I use as a deposit.
If I were to rent another property can I let my house.
I know the solution is to address the neighbours but the council are no help, the police do not want to know and we have no where else to turn to therefore, looking to sell my home and move away.
Any advice please.
Harls1
04/03/2018 8:42 pm
Welcome to the forum Harls1.
What a terrible position to find yourself in.
The usual scenario if you sell your home during a trust deed would be that any surplus funds (the equity) would be paid over to help repay your creditors.
Given your difficult situation at the moment I can't see why you wouldn't discuss this option with your trustee to see what they say. I would suggest however that you shouldn't necessarily expect the answer that you're hoping for.
There's no restriction on renting your home out and then renting a new home. You'd need to be mindful about whether this would restrict your ability to maintain your monthly contribution, or whether it might put you in a position to make an increased contribution.
There might also be a question about whether your trustee sees the equity in this home differently if you no longer live there. Something else to ask your trustee about I guess before making any final decisions.
Qualified Debt Adviser & Forum Administrator - Ask me anything about Trust Deeds 
Topic starter
05/03/2018 5:29 pm
Thanks for the response.
I am in a protected TD for 5 years date was protected 30/09/2014 to protect the property because not a lot of equity.
I do not have the extra money to upgrade my house to letting standards as does need some work, therefore both seem ruled out. Looks like I am stuck.
I am currently awaiting a response from my trustee.
Harls1
05/03/2018 5:32 pm
Hi Harls1.
Hopefully your trustee takes a practical view on this.
Please do let us know how you get on.
Qualified Debt Adviser & Forum Administrator - Ask me anything about Trust Deeds
