Hello Caroline,

Congratulations on approaching the closure of your Trust Deed.

Once it is closed there is of course nothing to stop you selling your home but I think the question is really one about mortgage availability.

One thing to check is whether your existing mortgage is "portable". This means you can transfer it from one property to another.

If it isn't, or porting your existing mortgage will not allow you to move where you wish, there are a number of factors to consider.

Firstly it will come down to mortgage availability and criteria at the time you choose to move. We all know that this is a tight area at the moment but it may relax in the future.

Secondly it will depend on your credit status. The longer it is since the Trust Deed was completed, and whether you have taken steps to build some good credit history on top of the previous problems, will both be factors.

Thirdly it will depend on your circumstances in terms of how much deposit you will have and your earnings and other commitments at the time you try to obtain a mortgage.

In terms of looking into this you may wish to speak directly with a mortgage broker to get their advice.
Alternatively if you would like to post some details about earnings, deposit available, amount that you would like to pay for a new home etc Graeme (our resident forum mortgage expert) may be able to add a few pointers and/or thoughts to the thread.

thanks for your response

Once I come out of my trust deed I no longer have any debt in my name or any arrears on bills.

My current mortgage is ?ú40,000 and the value of my property is around ?ú80,000, if I was moving on I would be looking to buy a property around ?ú140,000 so i'd be looking for a ?ú100,000 mortgage.

My current joint earning with my partner is ?ú40,000pa

Thanks Caroline,

Graeme spends a fair bit of time away from his office visiting clients but we've sent him an email asking for his thoughts.

I'm sure he'll add some extra information as soon as he is in the office and able to respond.