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MrsMopp

Trust Deed Question

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My husband and I are in a protected trust deed and have been paying the required payment for 14 months however our circumstances have really changed. We've recently had a baby making our outgoings higher and as I'm on maternity leave my income lower.

 

If my trustee reduces my monthly payment does this automatically extend the TD? We're really trying to stick with the 36 months as we will need a bigger house as we only have a 1 bed flat and with a baby there is no room but obviously we cant sell this flat and get a bigger house while in the TD.

 

Any advice greatly received.


:razz: Mrs Mop :razz:

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the trustee can put a variation tn the terms. I think dependant on how much change of amounts the trustee may extend it, but really talk to your trustee they are the best people to advise you

 

ida x


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