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Topic starter
21/11/2011 11:52 am
I am considering this to try and get through Christmas.
Will be going on Maternity leave soon whereby my wages are dramatically reduced. My gas/electricity have went up by £50 a month, and Council Tax is up £30 a month too.
So all in all, we are struggling.
I have been offered by Trustee to reduce our payments on PTD and to pay over a longer period of time, but as im counting down the months to the end of the TD as it is, I really dont want to do this.
We have 18 months left of Trust Deed.
Just wondered if it would be okay to try and take a mortgage holiday for next month, or would I have to contact Trustee to inform of this?
21/11/2011 12:03 pm
Hello greenie.
In terms of the mortgage payment holiday this is another interesting question, and perhaps one which it would be wise to check with your trust deed firm in advance.
On the surface of it it seems like it might be a "sticking plaster" option rather than a solution to the underlying issue. With increasing expenses (£80 for utilities and council tax), and your income soon to fall, is it realistic for you to stick to your current protected trust deed payment for another year and a half? Would the pressure created outweigh the benefit of an earlier conclusion to the trust deed?
In terms of a mortgage payment holiday I'd want to know what my Trustee would think of this before I did it. Effectively your expenditure will have gone down, which could be considered to mean that your trust deed payment should have increased. Having said that, if things are difficult for you right now your trust deed firm might be willing to show some flexibility to you.
Qualified Debt Adviser & Forum Administrator - Ask me anything about Trust Deeds 
Topic starter
21/11/2011 12:10 pm
Thank you TDA. I will give it some consideration and phone my Trustee if I decide to apply.
I really dont want to prolong my TD term, but if push comes to shove, I may have no choice but to do so. TY.
Topic starter
21/11/2011 12:16 pm
This forum really is a god-send. Thank you.
21/11/2011 12:42 pm
Hi greenie
I really don't see this being a problem.
We get requests occassionaly and these need to be agreed with the Trustee, but I dont see the problem.
Mark
Mark is not posting regularly in the Trust-deed.co.uk forum.
