Trust Deed Forum
Hello, I have recently entered into a trust deed. (I live my husband and 2 kids) we currently rent a 2 bedroom flat. An opportunity has come up from my husbands family member who has offered us to rent off them a 3 bedroom flat (essentially to give us an extra bedroom for our daughter). We are currently with an agency, but this will be a family member who is ware of my circumstance and wont be performing credit checks. The rent is an extra £100 per month and its my husband who pays the rent, not me. (the trust deed is in my name only). My husbands parents have offered to gift us £800 for our deposit. Can you advise if this will effect my current trust deed?
Hi Thomson2409,
Welcome to the Forum! From what you're saying, your income isn't changing, your expenditure isn't increasing/decreasing and it's therefore just a change of address. I can't see any issues with the standard T&Cs of a Trust Deed.
Others might be able to provide their own views, but should be fine 🙂
As Head of Property Management, I would suggest ensuring the new arrangement is treated like any other tenancy, even though it is with a family member. Make sure there is a clear written tenancy agreement, agreed rent terms, and all required deposit procedures are followed.
Regarding whether this could affect your trust deed, I would recommend speaking directly with your trust deed supervisor before making any changes or accepting financial help for the deposit, as they will be best placed to confirm any implications based on your circumstances.
