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Help Advice Needed
verderci
Posts: 47 Forumite
We are in a trust deed and still have a mortgage, a family member is going to help us buy ourselves out of trust deed in Aug, will we then be able to sell our house and get a new mortgage? We have no arrears, but am worried about credit rating.
Any advice greatly rec'd
Any advice greatly rec'd
Mel :heartpuls
0
Comments
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Hi
Take it you are in scotland and are referring to the scottish trust deed which is similar to an IVA?
Once you are discharged and you have your certificate to prove it you will be able to sell your house and get another mortgage, however, you MAY not fit with a prime high street lender
Saying that a lot depends on timescales, I got a mortgage at 95% loan to value with abbey for some clients in East Kilbride who had been discharged just short of six months
The best advice anyone could give you is to seek the advice of a professional mortgage broker, preferably a scottish one who will be familiar with the trust deed and your legal process
MMI am a Mortgage Adviser
You should note that this site doesn't check my status as a mortgage adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.0 -
Thanks for that.
Can I sell my house while I am in the Trust Deed?Mel :heartpuls0
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