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Topic starter
21/01/2014 7:42 pm
Hello,
My question is do I need to tell the bank that I have had a trust deed in the past if it was settled over 6 years ago? The trust deed no longer shows on my history and I was hoping it would be a thing of the past.
I am currently looking to buy a flat and when I called to discuss a mortgage agreed in principle I was asked if I had ever been bankrupt or had an IVA, I wasn't sure if I needed to tell them that yes I have had a trust deed but it was settled over 6 years ago and my credit history is now clean.
Thanks in advance.
21/01/2014 7:54 pm
There's nothing official on your credit file but banks may keep their own records of customers' past indiscretions. I think also the wording of the question is important. You haven't had an IVA or been bankrupt. If it asked if you had ever been insolvent, however.........
Glad that's over with....
21/01/2014 8:05 pm
Its all in the wording. An iva is an iva, a trust deed is a trust deed. Both are insolvencies, neither is a bankruptcy.
Careful reading is important and remember that a fraudulent application could stick to you for many years (I'm not suggesting you are likely to do this).
Paul
Trust deed completed Jan 2012,Trustee discharge Nov 2012.
A new dawn.
21/01/2014 8:06 pm
A whole of market broker will kniw which companies asks which questions so it may be worth speaking to one of those.
Paul
Trust deed completed Jan 2012,Trustee discharge Nov 2012.
A new dawn.
21/01/2014 8:10 pm
Hi Wull.
A lender can ask pretty much what they want.
If you don't answer honestly you leave yourself open to accusations of fraud.
The fact that credit reference agencies show information for a period of six years is a red herring I'm afraid.
As pointed out by others, read the questions carefully and literally before answering them.
Qualified Debt Adviser & Forum Administrator - Ask me anything about Trust Deeds 
