Hi Dave78

Bank accounts are not normally a problem, although different banks may have different criteria. I normally suggest Nationwide or Co op and have not heard of any rejections.

Re the renting, it is likely they will carry out a search and may require a guarantor or larger deposit. This, again, will be different with each letting agency.

Mark

Hi dave78.

There's nothing to stop you opening a new bank account. Please remember that each bank and each individual account will have its own acceptance criteria, and that some will not be available to persons in a trust deed.

To maximise your chances of success you should apply to a bank that no money was owed to and apply for one of their basic accounts without any credit facilities.

Some of our members may be able to make suggestions of accounts that have worked well for them.

Credit searches are often used when renting a flat or home. However over the years there has been very little comment in the forum about this making it too difficult for people to find a home to rent. The advice would be to:
1 - Make it clear to an agent or landlord in advance that you're in a trust deed and explain what it is. That shows honesty to the landlord which is a pretty good starting point.
2 - Explain that as you don't have credit cards or loans to pay you're probably in a better position to pay your rent than a lot of other people; the budget used for your trust deed prioritises the assignment of money to pay rent.
3 - A guarantor may well be helpful if someone is prepared to take on this for you.

Hi Mark - both the TSB & Nationwide have declined me a new bank account. Nationwide's reason was - 'unable to accept application due to being bankrupt or in an IVA'
As for the rental situation ill probably start speaking to individual companies to see what their criteria is then.
Thanks for your advice.

I think it's the landlord you really need to think of dave78. I'm sure you'll be able to persuade a lettings agent to discuss your possible tenancy with their client (the actual owner of the property) and at that point you've got a good chance of it going ahead.

When I entered into a TD in 2008 I had a bank account with the RBS but had no debt to them and I was allowed to keep banking with them, and still do. It is a current account with a chequebook but no overdraft facility.

Did you ask specifically for a basic bank account, dave78?