We'd like to remind Forumites to please avoid political debate on the Forum... Read More »
PLEASE READ BEFORE POSTING: Hello Forumites! In order to help keep the Forum a useful, safe and friendly place for our users, discussions around non-MoneySaving matters are not permitted per the Forum rules. While we understand that mentioning house prices may sometimes be relevant to a user's specific MoneySaving situation, we ask that you please avoid veering into broad, general debates about the market, the economy and politics, as these can unfortunately lead to abusive or hateful behaviour. Threads that are found to have derailed into wider discussions may be removed. Users who repeatedly disregard this may have their Forum account banned. Please also avoid posting personally identifiable information, including links to your own online property listing which may reveal your address. Thank you for your understanding.
Deed trust

Wd85
Posts: 50 Forumite

I’ve spoken with mortgage advisor who has advised my parent put deposit in the house but do a deed of trust. Would this affect my credit rating? I’ve been looking on google and my credit excellent and don’t want to affect it. He only putting it in to help he isn’t bothered about being named on the property and will help us with a reduce stamp duty
0
Comments
-
Why would it affect your credit rating? I don't see where this would come up on your credit record.0
-
depends what you mean by "credit rating'
your lender may not like the fgct the deposit is a loan if the deed of trust establishes a claim to get the money back if the property is sold (or repossessed)
alternatively if the DoT is in actual fact a renunciation of any claim over the money, the lender will love it
0 -
Wd85 said:I’ve spoken with mortgage advisor who has advised my parent put deposit in the house but do a deed of trust. Would this affect my credit rating? I’ve been looking on google and my credit excellent and don’t want to affect it. He only putting it in to help he isn’t bothered about being named on the property and will help us with a reduce stamp duty
Are you buying in England so the relevant stamp duty is stamp duty land tax?
Your parent has another property and will not be living with you?0
Confirm your email address to Create Threads and Reply

Categories
- All Categories
- 350.2K Banking & Borrowing
- 252.8K Reduce Debt & Boost Income
- 453.2K Spending & Discounts
- 243.2K Work, Benefits & Business
- 597.6K Mortgages, Homes & Bills
- 176.5K Life & Family
- 256.1K Travel & Transport
- 1.5M Hobbies & Leisure
- 16.1K Discuss & Feedback
- 37.6K Read-Only Boards