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Scottish Trust Deed Forum
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Topic starter
30/07/2020 9:19 pm
Hey everyone, was just wondering if anyone has had any success in getting a mortgage before the TD came off their record?
I still have 2 years before my 4 year is up therefore still over 4 years before it will come off my file but my other half wants to move ASAP and my family will not shut up about moving into a house that’s ‘ours’.
Once my TD is paid I plan on taking that payment and putting it into savings and that coupled with my other half’s slow savings he’s been doing will be enough for a 15-20% on a house within a year/year and a half of finishing the TD.
And to be honest I hate where we live now so the sooner we can move the better but I just wanted to know if anyone had successfully got a mortgage before their files were wiped clean or what the overall advice is.
Thanks in advance!
31/07/2020 9:07 am
Hi Tinkerbellxx.
We know of a couple of small mortgage lenders that will consider lending to someone who has been discharged for at least one year from their trust deed.
The majority will want you to have been discharged for at least two years or longer.
Lending policies change over time though, so things could be better or worse in terms of mortgage availability once you have been discharged.
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