Red28

The trustee is likely to ask for a current status report to be completed as your circumstances have changed from that when you entered into the trust deed.

The trustee will want to ascertain the agreement between your partner and yourself regarding the split of essential expenditure such as gas, electricity and council tax etc.

I would recommend you speak with your trustee notifying them about the change of your address and to complete a full income and expenditure statement.

would my partners income be taken into account for my debt, am concerned about his credit rating if I move in, it's his house and I wouldn't want my past having problems for my partner, I understand that I would need an income and expenditure review and they would want to know the agreement between myself and my partner re the household bills, but would they want to see his income is wage slips and bank statements? It really concerns me and I don't want to make the move if this has an effect o him

Hi Red28,

Sounds like a big step in your relationship but I guess one that makes sense. I did the same with my partner a long time ago. Around 30 miles separated us and eventually due to the travelling we decided to move in together. Still together 10 years later but it did take some time getting used to being with each other every day rather than every couple of days or at the weekends. My quirkily little habits I’m sure annoyed my other half in the beginning.

Are you currently living yourself in your own property and paying all of the associated bills? When you move in with your partner your expenditure may change in that you could be paying more towards the house bills than you were paying when you lived yourself or your expenditure could reduce as you will be paying less towards the household bills. Your Trust Deed payment is always based on affordability so if this changes your payment could change.

The Trust Deed won’t have any impact on your partner and your partner does not have to provide his bank statements or payslips so don’t worry about that. Also it will have nothing to do with his house as that’s in his name. The Trust Deed only looks are assets that you own.

As Sharon said it will all come down to a review of your income and expenditure once you have moved in and have an understanding of what your bills are. You could have extra travel costs as you may have further to travel to work etc.

Speak with your Trustee, update them on the change of circumstances and address and they will help guide you and keep you right. There shouldn’t be any problems and there will be nothing that prevents you from moving in with him.

Good luck with the move and living together 24/7.

Hi Red28,

Moving it won't have an impact on his credit rating either so don't worry about that. I assume you have no joint or linked financial accounts together?

I think Swandog has just made an important point Red28.

Your presence in the property will not affect your partner's credit rating.

However, opening up some kinds of joint financial arrangement (a joint current account for example) will link your credit files.

This would not reduce your partner's credit rating, but the link might put some lenders off lending to him if they view you both as being financially interdependent.

Thank you so so much Swandog for your reply, took a huge weight off my shoulders after reading your message. Yes I currently live myself we are just under 50 miles apart would be much easier if we were together but he is very concerned about my trust deed affecting him, his address and if they ask for any of his bank statements etc, it's difficult and don't want it to cause a problem between us, he was pretty adament that his address will be blacklisted the minute I move in

Hi Red28,

Your welcome. I remember feeling a little nervous when we moved in together never mind having the worry of debts and credit ratings to contend with.

Try to reassure your partner that myth of an address being blacklisted isn’t the case. That’s still a common myth that people worry about and ask. The Trust Deed should be specific to you and your credit rating and should not impact on your partner.

Remember as well you never took any of your debt out at his address and nothing will be registered to his address. All you will do is update your Trustee with a new address for their system. This won’t be recorded anywhere.

No need for them to look at bank statements or anything to do with his finances.