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Property/DIY

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Deed of Trust

4 replies

Albie9 · 12/06/2023 11:34

I am splitting from my partner of 7 years and had a deed of trust drawn up by a solicitor when we purchased our home. Since then, we have renewed our mortgage.
I had assumed the agreement was something that was in place unless decided otherwise.
However, I am reading the original document and it mentions the mortgage so I'm wondering if this is a document that needs renewing each time you remortgage. Can someone help with this please to let me know if this is the case?

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SeemsPointless · 12/06/2023 14:04

I think we'd need to see the actual wording on your Trust tbh. We have a Deed of Trust and it's not impacted by mortgages - the house ownership remains unchanged, it's just that any loan amount would have to be paid off first.

Albie9 · 12/06/2023 15:04

@SeemsPointless thank you for your reply.
It's. Very long document but I'm wondering if the below confirms that it doesn't matter about a remortgage:
"The Mortgage with National Westminster Bank Plc numbered (XXXXXXXX) or any subsequent mortgage which replaces it, or any further charge subsequently taken out against the Property"

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SeemsPointless · 12/06/2023 15:51

@Albie9 - IANAL but I would say that the clause means that the Trust doesn't need to be renewed every time the mortgage is changed.

I think you'd still be covered by the terms of the original Trust, regardless of who the mortgage is with.

Albie9 · 12/06/2023 16:46

@SeemsPointless great, thank you for your help. It looks that way to me too having read that sentence but they're always worded in such a way, I find they're difficult to understand (unless you're a solicitor!) so I wasn't sure. Thanks again x

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