Hi,
As the title suggests I have had a change of circumstances personally and financially.
I am halfway through my trust deed and have never missed a payment. However, I am about to move out of the family home and rent on my own, resulting in more than double the outgoings or half the income, whichever way you look at it.
Now, what happens?
Any advice, help is very much appreciated.
CP
Trust Deed Complete July 2013.
Discharged August 2013.
Saving up ever since...
If you have chosen to move house and can no longer afford your payments then your trustee may justifiably see this as a failure on your part to stick to the terms of your trust deed. If so then they are at least likely to look to extend the term of your trust deed, though they could decide to terminate it altogether.