Changing a Deed of Trust on Remortgaging

[im2020]

I helped my daughter buy her first house 2 years ago. It cost �275K. I put in �125K and she borrowed �150K on a mortgage. The house is registered solely in her name. We drew up a Deed of Trust specifying that I received 45% of the proceeds of any sale. The Land Registry's Proprietorship Register shows this as a Restriction on any transfer.

Since then my daughter has married and lives happily with her husband in said house. She now wants to remortgage with a different building society (to improve terms after her first 2 year fixed interest arrangement). The new mortgage will be in the joint names of her and her husband.

The new mortgagor normally operates a streamlined (one-stop-shop) switch and save process to set up the loan but, because of the change of name of mortgagee, they need my daughter to engage a solicitor for the extra tweak.

Can anyone see any special wrinkles we need to watch out for in amending and re-registering the Deed of Trust to show the new owners and the new mortgagor?

Thanks in advance for any thoughts.

[wisewomen]

Myself and my b/f bought a house 6 months ago with the help of my mum and drew up a Deed of Trust to protect my mums money. We are now selling to buy somewhere bigger and re-investing my mums money in the new house.

As I understand it the Deed of Trust is not linked in any way to the mortgage but to the Land Registry. As she is not selling no amendment should need to be made to the Deed of Trust as you still stand to get the same amount out of the property sale even if your daughter and boyfriend have a joint mortgage.

If in doubt speak with the Solicitor who drew up the Deed of Trust in the first place. They should not charge you for the advice.