Toni

sorry to hear about the issue with your neighbours. From a personal point of view, I can empathise and know how stressful this can be.

it would be highly unlikely you would be able to purchase a property whilst being subject to the trust deed.

As part of the trust deed, your assets are conveyed to the trustee. If your current property is sold, your share of the proceeds would be remitted into the trust deed estate and would benefit your creditors.

Perhaps it would be worthwhile giving your trustee a call to see what options may be available.

p

Hi Paul thank you for the reply.

I'm currently paying into the trust deed for 5 years with one of those paying 12 months for the property as there was no equity. I just moved into my property before my trust deed began.

Its unfortunate to read it will be difficult to move into a new property and pay for a mortgage. To be honest I feel like I was miss sold the trust deed as I was in a very vulnerable situation and lost a lot of weight due to my finances and couldn't think properly.

Could I ask once I've paid those 12 months for the property and this trust deed is finished. Do I still get to keep all the money paid into my mortgage to help me move to a better property if I sell at a good price?

I will contact my trustee to see if anything can be done.

thanks

Welcome to the forum Toni.

I think one of the biggest obstacles to moving during your trust deed would be getting a new mortgage. We don't know of any mortgage lenders who would give you a new mortgage until some time after your trust deed has been finished.

Some people have "portable" mortgages which they can take from one property to another. A move might be viable if you have a portable mortgage, but you'd need to talk it through with your mortgage lender and your trustee.

If moving to a new home feels urgent, would you consider renting your house out and then renting a new home to live in?

It sounds like the point of the extra year in your trust deed is to make a contribution towards the equity in your home. Once the trust deed has been completed, you'd expect to be able to use the proceeds of any sale exactly how you choose.