Trust Deed Forum - Can I sell my home whilst in TD
Trust-Deed.co.uk
Home Home Page


















Trust Deed Forum
Trust Deed Forum
Home | Profile | Register | Active Topics | Members | Search | FAQ
Username:
Password:
Save Password
Forgot your Password?

 All Forums
 Trust Deeds
 Scottish Trust Deed Forum
 Can I sell my home whilst in TD
 New Topic  Reply to Topic
Author Previous Topic Topic Next Topic  

Harls1
New Member

5 Posts

Posted - 03 March 2018 :  13:30:49  Show Profile  Reply with Quote
I am having real complications with my neighbours and the situation is very stressful regarding noise. The council are involved but, nothing is getting resolved. they own their home as do I.
Can I sell my property whilst in a TD and use any capital after mortgage paid to buy another with my new partner(in his name)as hard for me to get a mortgage.
Would the TD take the capital? or can I use as a deposit.
If I were to rent another property can I let my house.
I know the solution is to address the neighbours but the council are no help, the police do not want to know and we have no where else to turn to therefore, looking to sell my home and move away.
Any advice please.



Harls1

TDA (Debt Adviser)
Trust Deed Expert



12692 Posts

Posted - 04 March 2018 :  20:42:58  Show Profile  Reply with Quote
Welcome to the forum Harls1.

What a terrible position to find yourself in.

The usual scenario if you sell your home during a trust deed would be that any surplus funds (the equity) would be paid over to help repay your creditors.

Given your difficult situation at the moment I can't see why you wouldn't discuss this option with your trustee to see what they say. I would suggest however that you shouldn't necessarily expect the answer that you're hoping for.

There's no restriction on renting your home out and then renting a new home. You'd need to be mindful about whether this would restrict your ability to maintain your monthly contribution, or whether it might put you in a position to make an increased contribution.

There might also be a question about whether your trustee sees the equity in this home differently if you no longer live there. Something else to ask your trustee about I guess before making any final decisions.

Qualified Debt Adviser & Forum Administrator - Ask me anything about Trust Deeds    
Go to Top of Page

Harls1
New Member

5 Posts

Posted - 05 March 2018 :  17:29:36  Show Profile  Reply with Quote
Thanks for the response.
I am in a protected TD for 5 years date was protected 30/09/2014 to protect the property because not a lot of equity.
I do not have the extra money to upgrade my house to letting standards as does need some work, therefore both seem ruled out. Looks like I am stuck.
I am currently awaiting a response from my trustee.

Harls1
Go to Top of Page

TDA (Debt Adviser)
Trust Deed Expert



12692 Posts

Posted - 05 March 2018 :  17:32:52  Show Profile  Reply with Quote
Hi Harls1.

Hopefully your trustee takes a practical view on this.

Please do let us know how you get on.

Qualified Debt Adviser & Forum Administrator - Ask me anything about Trust Deeds    
Go to Top of Page
  Previous Topic Topic Next Topic  
 New Topic  Reply to Topic
Jump To:
Trust Deed Forum © 2008 - 2018 www.trust-deed.co.uk Go To Top Of Page
Snitz Forums 2000

(c) Channel Active Limited. Company Number: 06412452. Data Protection Registration: Z1332750.
Telephone calls may be monitored or recorded. Authorised and regulated by the Financial Conduct Authority.
Trust-Deed.co.uk, Clyde Offices, 2nd Floor, 48 West George Street, Glasgow, G2 1BP. Tel: 0141 2490416.