Notifications
Clear all
Scottish Trust Deed Forum
4
Posts
3
Users
0
Reactions
1,064
Views
Topic starter
21/08/2012 10:22 am
Hi folks, I know I have posted about this before... But have another question. As mentioned in my earlier post, I've had to borrow £80 from my Barclays Mortgage Reserve. This has now gone up to £160 as everything seems to be going wrong at once. I will be paying half of this amount back into the acc this Thursday, and the other half back next Thursday. At which point the balance will be back to zero. Will this have any effect on my trust deed?? I still have 2 weeks to wait to see if it is going to become protected. I know that borrowing from my mortgage reserve isn't ideal but I literally have no money until payday on Thursday. And have 2 kids to feed!
21/08/2012 10:25 am
Hi again Nemo1.
I dont think this is going to have any implications for your trust deed.
For obvious reasons borrowing during a trust deed isn't a great idea. However, in the circumstances as you describe them I can see why you have taken this course of action.
Qualified Debt Adviser & Forum Administrator - Ask me anything about Trust Deeds 
Topic starter
21/08/2012 10:30 am
Thanks TDA, for putting my mind at rest. I fully realise that borrowing of any form is a bad idea... That's why I'll be clearing the balance asap. My mortgage company know I am entering into a TD, so I find it strange that I have this reserve in the first place?! However it is handy for situations like this.
21/08/2012 11:33 am
Hi Nemo1
I don't think Barclays will be too concerned as any borrowing will be tied to the property, so less risk for them.
Mark
Mark is not posting regularly in the Trust-deed.co.uk forum.
