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Scottish Trust Deed Forum
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Topic starter
21/08/2014 9:25 am
Hi I wonder if you can help. I am planning to relocate and don't know if it will be permanent or not so I am planning in renting my house out and moving to rented accommodation would this affect my trust deed. The other thing that makes it's slightly more complicated is I would be renting my mum and dads house and my dad has the same name would this affect his credit rating?
21/08/2014 12:16 pm
Hi iainvr4
There should be no issues with you renting while in a Trust Deed. The only 2 areas which are normally affected are if the rent is greater than the mortgage/costs etc which would produce an increase in income. This may lead to an increase in contribution. The other is you may require the consent of the mortgage company.
I don't see renting would have any bearing on your Father's credit rating.
Mark
Just realised I had 'Mather's credit rating' which looks like some weird hybrid of Mother and Father. I fear my fingers are getting too fat to type!
Mark is not posting regularly in the Trust-deed.co.uk forum.
21/08/2014 1:10 pm
I have seen it happen where credit reference agencies have muddled up a father and son with the same name who live at the same address. It shouldn't happen but I wouldn't want to promise you that it wouldn't.
All I can suggest would be that your father keeps an eye on his credit file and if anything goes on there that shouldn't then it can be removed.
Scottish Debt Solutions Expert - Ask me for help setting up a Scottish Trust Deed or Debt Arrangement Scheme plan.
