Welcome to the forum Natalie1988.

Congratulations on reaching the final stages of your trust deed.

You'll certainly want to receive your Form 5 (and - much more importantly - check that it's registered on the Register of Insolvencies) before acquiring any assets voluntarily.

Ignore that credit score. It's just a guess from the credit reference agency of what a lender might think about an application from you. We've seen over and over again that the CRAs don't take proper account of recent trust deeds.

Lenders don't use this credit score. They create their own scoring systems based upon the information in your credit report and on any application form.

The presence of a recent trust deed in that information is likely to be destructive to your ability to obtain mainstream credit for some time. However, you'll only find out by actually applying and the negative effects are likely to diminish over time.

See: https://www.trust-deed.co.uk/repair-your-credit-rating.html

Hi Natalie1988

There's probably 2 parts to this. When the Trust Deed is signed, your trustee will place a notice of inhibition over the property which effectively stops you selling or burdening (remortgaging) the property without this being discharged. As part of the Form 5 process, the Trustee is required to discharge the inhibition before issuing Form 5 and this would leave the property free to sell or remortgage without the trustee having an interest.

However as TDA has mentioned, the fact that the Trust Deed was registered against you will certainly have an effect on your credit file and as such most if not all lenders will look at this as a major stumbling block for remortgaging.

Sorry its not more positive news.

Mark