Welcome to the Trust-deed.co.uk forum Craig.

Your best bet is to locate an independent mortgage adviser who covers the whole market for mortgages and not just one or two.

You should find one locally who you can sit down with and gain the trust of.

I know several people who have used a chap called Ryan at zebra money for mortgages after completing the english insolvency process known as an iva. Well worth a chat with him regarding your circumstances.

Hope thats ok TDA,no direct link posted.

Paul

Thanks TDA & Paul - I will take your advice on board and look into independent advisors. I have been speaking to a man at Linear finance- he seems ok, but to proceed he is looking for me to pay £499 - is this normal or am I just being hld to ransom because of my previous financial situation?

Hi Duncra,

I completed my TD in Sept 09 and succesfully got a mortgage approved with a 25% deposit in September 2011. I talked to a couple of IFA's between December 2010 and May 2011 and they were not very sure about mortgage after TD as still showing on credit file etc. All they could suggest was to try and to avoid the creditors that had been part of my TD (that makes sense), I got pre approved (1st stage) with Natwest only to have it full through at a later stage because of TD. I was then pre approved via Lloyds TSB and again that fell through. The IFA's were nice guys and when it came to mortgages knew what they were talking about but when it came to getting one after a PTD they really had no idea, I think that had a lot to do with how the mortgage/housing market was (recession, banks not wanting to lend etc). Very disheartened I ended up renting and then an opportunity arose to buy my boyfriends (my boyfriend has never had any credit and as such his credit report is a little blank) parents house, we decided to bypass an IFA and went striaght to our current account provider (we do not have joint accounts), this was approved and went through no bother, I think the bank was able to see how I had mamaged my money whilst in my PTD and also after my PTD, I had also been in the same job for 7 seven years. I got a good mortgage deal aswell and have not had to pay through the nose in interest etc. I hope this helps.

quote:

---

Originally posted by Duncra

Thanks TDA & Paul - I will take your advice on board and look into independent advisors. I have been speaking to a man at Linear finance- he seems ok, but to proceed he is looking for me to pay £499 - is this normal or am I just being hld to ransom because of my previous financial situation?

---

Dont pay anything up front until you know what its for and whether you will get it back if they cannot secure you a mortgage. Make sure you have these details in writing. Just ensure its a whole of market broker you approach.

It may even be worth approaching whoever runs your current account and ask them whether they may entertain you,given that you will have a deposit its possible they may offer a deal.

Let us know how you get on.

Paul

I agree with Paul Duncra.

I cannot see any need to pay this type of upfront fee.

You are being held to ransom, any reputable IFA would not charge you, most IFA's get their fee from the bank they have arranged the mortgage with. I met with a couple of IFA's and none of them charged me anything upfront or would charge me anything on completion.

Occasionally up front fees can be charged just to try and gain a mortgage but there is no guarantee that the money will be refunded if your broker cannot find you a deal. Plenty brokers out there so choose carefully.

Paul

Thanks for the advice folks. I just contacted my bank(Barclays) and passed all the initial checks, then fell at final hurdle as they classify a trust deed as being same as bankruptcy and won't entertain me until 6 years have passed from discharge:(. Can anyone suggest any companies that would lend?

Hi Duncra.

I think you'll find this at most high street banks.

A broker may be able to look at lenders you'd otherwise be unaware of.

Thanks for the advice folks. I just contacted my bank(Barclays) and passed all the initial checks, then fell at final hurdle as they classify a trust deed as being same as bankruptcy and won't entertain me until 6 years have passed from discharge:(. Can anyone suggest any companies that would lend?

Hi Duncra,

I passed initial checks with Natwest and Lloyds TSB and then failed at the final hurdle. I would leave a couple of months before trying again, my current mortage is with RBS who approved me relatively quickly. Hope this helps.