Notifications
Clear all
Topic starter
15/02/2010 3:23 pm
Hi
I've had a TD for around a year - and I've recently moved out of a rented flat who I shared with the actual owner (a friend of mine).
I now live with my partner. She owns the property, has excellent credit and a decent income. Going forward the change of circumstances form requires me to put in my partners income. We have no joint loans/cards/accounts whatsoever so I am wondering why I have to do this. She also works in Financial Services therefore I am keen not to be directly associated financially so as this does not effect her in the future.
From what I can make out this is to make sure that her income is taken into account with bills. As far as I am concerned my outgoings are the same as they were when I lived with my friend! Does the simple fact that if I put that she is my partner down I could be eligible to ay a whole lot more back?
Any advice would be greatly welcomed.
Regards
Gab
15/02/2010 3:53 pm
Hello GAberdeen and welcome to the Scottish Trust Deeds forum.
Your Trustee wants to take account of your partner's income to ensure that you are paying your fair share of the household expenditure (and not much less or much more). For example if you each earn similar amounts the Trustee might expect you to be covering 50% of the household costs.
This doesn't necessarily mean that you will pay more into your Trust Deed unless it is fair and affordable for you to do so.
Qualified Debt Adviser & Forum Administrator - Ask me anything about Trust Deeds 
Topic starter
15/02/2010 4:00 pm
Hi - thanks for your quick response.
Ok, now in addition I have been made unemployed and have been since November. I am managing to keep up payments to the TD as my parents have been giving me the money as a gift.
Therefore (unless I start a new job this week which I may), my partner, who earns 25k a year is obviously going to be earning significantly more than me. When I return to work I should be earning between 22 - 25k per annum - when this happens will it just be a case of splitting the household income down the middle with regard to expenses?
Apologies if I didn't explain that properly.
15/02/2010 4:09 pm
If you're earning the same amount as each other the general household costs are likely to be split in half as you say.
Your contribution to the Trust Deed is only likely to increase if your new circumstances leave you with more disposable income than you previously had.
Qualified Debt Adviser & Forum Administrator - Ask me anything about Trust Deeds
Topic starter
15/02/2010 4:20 pm
Thats brilliant. It doesn't sound like I've much to worry about. I was just concerned when the form was asking what the relationship was to the other person in the house that got me thinking - but from what we've discussed it doesn't matter in that they will take my partners income into account anyway.
I really appreciate your help.
Thanks
15/02/2010 4:28 pm
Hi GAberdeen
As TDA states, if you are earning the same amount as your partner, the joint expenditure would be split equally i.e. your contribution towards the mortgage, council tax, utilities, food etc. If however, for example, your partner was earning significantly more than you, they would be expected to pay a greater share of the expenditure.
Julie
Julie is not currently posting in the Trust-Deed.co.uk forum.
Topic starter
15/02/2010 4:36 pm
Thanks for the reply. I'm impressed with the helpfulness provided on this forum.
Does this therefore mean that I have to supply a statement from my partners mortgage to show her monthly mortgage payment so that they know I am not simply plucking a figure out of thin air?
G
