Cash from trust as a deposit

Horace92

I'm a beneficiary of a disabled person's trusts, I receive some means tested benefits.
I'd like to use some of the funds in the trust to help my girlfriend by a house near me.
Can the trust's funds be paid to the mortgage provider directly and then have me own that proportion of the house? So in effect the trust is helping to buy me a home in my name, not the trusts name. The point here is the money cannot come to me first then be transferred to mortgage co as then it would be deemed to be my money in finance assessments.

propertyrental

Who are the Trustees?

Horace92

I am also one of the trustees.  The other family friend.  We follow the settlors letter of wishes. The trust is allowed to be used for pretty much anything that benefits my quality of life.  Holidays, hobbys and maintenance etc on our house.

Yorkie1

Is the plan for your girlfriend to buy the house, or both of you together, or just you? It's not entirely clear from your post.

Horace92

Yorkie1 said:

Is the plan for your girlfriend to buy the house, or both of you together, or just you? It's not entirely clear from your post.

Sorry, so my girlfriend works and would get the mortgage for the majority of the property.  I would probably be contributing 10%-15%, so the deposit.  I would own that percentage, her the rest.

Horace92

I had already discovered that she would not be able to get a mortgage if the property was part owned by the trust.

Schwarzwald

Rather confusing post.

1- why would the deposit be paid “to the mortgage co”?
the deposit and also mortgage are typically paid to your solicitor and then onwards to the vendor, not the mortgage company.

2- are you afraid that you lose your benefits if you receive the money? If so, then it kind of triggers the question of why you receive benefits if you have lots of money to your benefit in a trust?

Horace92

Schwarzwald said:

Rather confusing post.

1- why would the deposit be paid “to the mortgage co”?
the deposit and also mortgage are typically paid to your solicitor and then onwards to the vendor, not the mortgage company.

2- are you afraid that you lose your benefits if you receive the money? If so, then it kind of triggers the question of why you receive benefits if you have lots of money to your benefit in a trust?

1. OK the deposit paid to the solicitor and then onward to the vendor, my mistake.

2. Trusts can't be used for the general day to day cost of living. Food bills, care etc. I can't just be given money from the trust as I feel like it.  Its a discretionary trust so I have no right to the money. All trustees must agree. I am principal beneficiary but there are other beneficiaries.