Welcome to the forum LisaJane.

That doesn't sound dodgy at all. In principle there's no reason why you couldn't rent out your home and rent another home for your family.

There may be consequences if it affects your ability to maintain your agreed trust deed contribution, so the numbers will need to be thought through carefully. When you do this I suggest that you make provision for periods during which your home may be unoccupied, letting agents fees etc.

Getting a new mortgage while in a protected trust deed is going to be extremely hard. Without a deposit it will, I'd imagine, be totally impossible.

Thanks for your reply. I guess there is a significant outlay in doing this so would need to think carefully. Do you think there would be any legal issue to signing a contact with a third party broker whilst in trust deed? Perhaps on a year or twos contract. Could a trust deed be an issue?
I am not expecting to default on payments - have been managing ok since trust deed.
Thanks for the advice

What type of third party broker do you mean LisaJane?

To be honest I was thinking of a private sector leasing company that works with our local council providing accommodation to homeless applicants on a temporary basis till they obtain social rented housing. Our contract would be with them and they pay us regardless wether the house is tenanted, but it would be a years contract with them minimum maximum of 3 years. They might have a policy that states they won't take us on but I wondered if it was dodgy to even consider it? I just like the fact that the income is fixed and we will get our payments regardless. Don't want to do anything wrong though

I doubt that your trustee would object to that LisaJane provided that there are no negative ramifications or enhanced risks for your creditors.

Will the income from the arrangement be enough to cover the mortgage, Lisa Jane? Also, would the rent on the private let be more or less than what you are currently paying for the mortgage?

These questions are what your trustee will want answered to assess whether this would disadvantage your creditors or not.

Thanks very much for your advice it is appreciated. I will speak to the company and get more info re the process - it can't hurt to ask! Was feeling trapped earlier now there may b away out!
Thanks again
LisaJane

Kevin yes we would need to number crunch. I think the only way it would work is if we could let the house out for the mortgage amount and then rent for the same amount? That way it would be clear cut. Under those circs is a trustee likely to object?

There's probably no reason to object in those circumstances.

Or, even better, be in a position to pay a little more to your creditors.

Once you've put the numbers together why not run it by your trustee LisaJane?

Sounds like a plan! Thanks very much.