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Mortgage reserve

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(@nemo1)
Estimable Member
Joined: 13 years ago
Posts: 161
Topic starter  

Hi there, I'm new here and just wanted to ask a question... Myself and my husband are currently waiting to find out if our trust deeds are going to be protected. We have 3 weeks to go.. Anyway, we had problems with both of cars and ended up with no money for food, gas etc. So we took out £80 from our Barclays mortgage current account reserve fund, and will put the £80 straight back in at the end of the month. Does any1 know if me doing this will have any effect on our trust deed becoming protected? It is being done through Wilson Andrews.
Any info or help would be greatly appreciated 🙂



   
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Mark McFadyen
(@mark-mcfadyen)
Famed Member
Joined: 17 years ago
Posts: 4798
 

Hi Nemo1

I can't see any reason why that would have any effect whatsoever.

Im sure it will be fine.

Mark


Mark is not posting regularly in the Trust-deed.co.uk forum.


   
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(@nemo1)
Estimable Member
Joined: 13 years ago
Posts: 161
Topic starter  

Will the creditors know about our current account reserve? As I do not want it, I'm going to be telling Barclays to take it away. But not sure if it's anything at all to do with the TD..



   
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Mark McFadyen
(@mark-mcfadyen)
Famed Member
Joined: 17 years ago
Posts: 4798
 

Hi Nemo1

No, the key point is the position at the date of signing. What you do after that as described is outwith the Trust Deed.

Mark


Mark is not posting regularly in the Trust-deed.co.uk forum.


   
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(@sarah-jolly)
Eminent Member
Joined: 14 years ago
Posts: 41
 

Hi Nemo1

As Mark has already advised, this is unlikely to be a problem due to the amount being pretty nominal.

If there are any problems like this or indeed anything else in the future, then please do give us a call.

I hope this puts your mind at rest.


Sarah ÔÇô A member of the team at Wilson Andrews.


   
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