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scottish trust deed questions?

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  • scottish trust deed questions?

    will part of the mortgage deal- unsecured loan- will be included into trust deed? if so will mortgage monthly payments decrease or stay the same? ,,,, being offered to go this route but worried as different trust deed agents have different views on that.... dont wont to loose my house or worse.If anyone knows answers will be appreciated!

  • #2
    Re: scottish trust deed questions?

    old post I know. I am in a similar position.

    I spoke to an IP and basically, what I was told was that as your making two payments together, no doubt this is with NR, and your payment is made up of 2 payments, the secured part and unsecured part - your monthly payment will reduce.

    The IP told me that if you pay the £500, the interest in your house would be waivered, i.e. if your TD did not become protected then you were sequestrated, you would keep your house as the IP is acting as the trustee and would not want your property.

    Hope this is all making sense. Even though I was told this by the IP I asked them to put in writing that if I paid them the £500 my house would be safe. They basically dodged that - so take from that what you will.
    Nemo me impune lacessit