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Scottish Trust Deed Forum
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Topic starter
29/07/2012 11:23 am
Hi
I'm new to this forum and this is my first post. After reading some of the topics, it's very helpful therefore I hope someone will know the answer to my question.
I turned 30 this year and after renting a flat with my boyfriend for 2 years, we wanted to buy. This was obviously not an option for me as I wouldn't pass a credit check. Anyway, his dad generously offered to get us a mortgage along with my boyfriend. This went through and we moved into our house in December. They are both adamant the house is as much mine as my boyfriends as it's my boyfriend and i who are paying it and his dad is just a name on a page. Basically I'm wondering if I can now be added to the mortgage as I am contributing to it each month or if I need to wait until I've been discharged?
Oh I've been in my trust deed for 26 months. It's a 48 month trust deed.
Any info would be much appreciated.
Thanks
Angela
29/07/2012 12:10 pm
I would wait until you are discharged because adding yourself to the mortgage sooner would then create a financial link with your boyfriend which may affect his credit rating. Also your trust deed company may decide to take an interest in your property.
I would just carry on as you are for the time being.
Paul
Trust deed completed Jan 2012,Trustee discharge Nov 2012.
A new dawn.
Topic starter
29/07/2012 3:04 pm
Thanks Paul. You're absolutely right. I never thought about the financial link.
Thanks again. Much appreciated
Angela
29/07/2012 4:11 pm
No problem at all,glad to help.
Paul
Trust deed completed Jan 2012,Trustee discharge Nov 2012.
A new dawn.
29/07/2012 5:17 pm
Hi flangela.
For your information, being on the mortgage doesn't make you an owner. That's to do with the title deeds.
If you are already an owner your trustee may take an interest in your share of any equity in the home.
If you aren't an owner, you may want to keep it that way until after your trust deed is completed.
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