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Topic starter
06/01/2017 10:23 pm
Good evening.
I currently have a trust deed and when I began this myself and my ex partner had already separated. We have 2 children and a joint mortgage however he lives in the property and I stay with my mum. However we have not made a final decision but I am considering moving back to the property as a couple and wanted to know if my trust deed payments would change as I would then be in the household with his wage as well as mine and how would it affect him credit wise and if there was equity in the property would they then take the full amount of equity available in the property rather than just my half and ask us to try and release equity in the property to pay off debts remaining through the trust deed?
I have a lot to consider before I make a decision on going back. But if I did decide to I obviously need to let him know if and how my trust deed would affect him and the property.
07/01/2017 7:45 am
Welcome to the forum Twinkle33.
If your circumstances change by moving house then your disposable income should be reassessed. Your payment should however continue to be affordable based upon your income, your expenses, and a reasonable share of the joint household bills.
Assuming you're the joint owner of the property, it makes no difference whether or not you live there as to whether any equity contribution would be due. That contribution would be based on what you own irrespective of where you live. It would only ever apply to the proportion of the equity that you personally own.
Moving in will make no difference to the other parties credit score. However, because you have a joint mortgage it's highly likely that a link between your credit files already exists. Without affecting his credit score this might make some lenders less willing to offer him credit. This doesn't seem like something that would get worse because you move back though.
Qualified Debt Adviser & Forum Administrator - Ask me anything about Trust Deeds 
Topic starter
07/01/2017 9:21 am
Thank you #128522;
