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Topic starter
28/07/2018 1:02 pm
Hi all I've been discharged from my trust deed for about 5/6 years now and it's been a bit of a journey however my trust deed was protected and so I managed to keep my mortgage and my main goal after was to build my credit rating, it's been poor since my discharge which I expected, to my surprise I checked my rating on experian recently and my score has climbed to a good standard even though I'm a bit behind in my credit card, there's now offers to do balance transfers from a credit building card to a virgin or Barclays card which feels good, my real question is I want to buy a house with my girlfriend and wonder if that's going to declined considering my past trust deed, is experian reliable for a credit score and can my score be different with banks ect ?
29/07/2018 11:52 am
Hi Macky.
Lenders don’t use your credit score.
They use the information on your credit report, plus the information in your application, to create their own score. They’re matching their products and risk appetite against their view of whether you’d be a profitable customer.
Having arrears on a credit card might be a significant red flag to mainstream lenders.
Qualified Debt Adviser & Forum Administrator - Ask me anything about Trust Deeds 
Topic starter
29/07/2018 6:29 pm
Thanks Amy, so how long does a trust deed stay on your credit report, if I payed my credit card in full is it likely I'll get better chance of a mortgage or I'm I still going to have trouble?
Topic starter
29/07/2018 7:26 pm
Any advice on where credit reports that I should apply and steps to build credit welcome, also if anyone has info on there experience on getting mortgage after a trust deed?
30/07/2018 9:05 am
Hi Macky.
6 years. It's also 6 years for any default notices, which should have been issued at the time your trust deed began. Sometimes they're issued later and people need to contact the former lenders to have them backdated.
If you have a balance owing on your credit card it will, in an affordability test, potentially reduce the amount that you can borrow for a mortgage.
If you have any missed or late payments it's likely some lenders will be much less willing to lend to you at all.
I think you need to get in touch with a mortgage broker. Your old trust deed is probably one of the less important factors connected to whether you can get the mortgage that you want now. There's loads of other factors involved.
Qualified Debt Adviser & Forum Administrator - Ask me anything about Trust Deeds
30/07/2018 1:50 pm
Check all of the free services, ClearScore, Noddle, MSE Credit Club.
Make sure all the dates of defaults for both open and closed accounts are as of the date you signed (this will be the same date as in your public records section for your PTD).
Make sure all defaulted accounts (OPEN and CLOSED) are marked as Settled or Partially Satisfied.
for anything that is wrong write to the lender and ask them to make the correction and they should do this very quickly and you will need to send along a copy of the Form 5 at the same time
Everything will then come off at the same time which will be 6 years from the date you signed the PTD and you should then be good to apply for a mortgage just like everyone else.
