Hi boys1211.

I think everyone around the country, trust deed or not, will have noticed that the basic cost of living has shot up.

This has been reflected in the guidelines used to set allowances for things like housekeeping within all types of debt solutions. For housekeeping itself the allowance range has extended upwards quite a bit in the past couple of years.

Hi boys1211,

I would agree with you in that I also feel that living expenses are becoming more and more expensive. As TDA has said, the guideline expenditure allowances have been increased over the past couple of years to reflect increase in the cost of living.

4 further payments to go and then you will be £900 per month better off. This will certainly help with the cost of living and I'm sure will be welcomed by you both.

Good luck for the future and your final 4 payments. Make sure you cancel the standing order after the final payment.

Finishing line in sight, boys1211 - lets hope these last 4 months don't drag by too much! How exciting it must feel to know that you will have £900pm extra in your pocket then - have you started planning a treat for yourselves to look forward to?

Thanks guys,
Yeah hoping these next few months fly by !!!

Kevin, nothing immediate planned but would love love love to move house in next few years if possible !!! Any advice??

As I mentioned we each now have a vanquis credit card which will of course be used sparingly & paid off in full every month !! Hubby has mobile contract. On electoral role etc.

By time the TD is finished I reckon we will be sitting with no equity but not in negative equity either (sure there's a technical term for this) So, the plan is to overpay the mortgage by a good few hundred a month & also save a bit !!!

Any more suggestions would be more than welcome - and any idea when we can start realistically applying.

Thanks
boys1211

Guys any advice would be great ?? Thanks

If your looking to move house you will need a minimum deposit of 10%. Due to your credit rating you may need a bigger deposit to satisfy the lender that your a lower risk.

As you are already doing, try to build your history back up. A lot of good advice on the forum for doing this.

Some mortgage companies will consider someone with a bad credit history but it may be difficult and a good mortgage advisor may be able to help.

In terms of applying, wait until you are fully discharged from your Trust Deed but unless you have a minimum of 10% deposit you won't get a mortgage.

Thanks so much David,

Would like to have at least a 20% deposit, so that's the goal, not in an immediate rush but we are kinda outgrowing our house !!!

boys1211

Hi boys1211.

That makes a lot of sense.

The bigger the deposit the better chance anyone has of being able to purchase a home. This will be especially true where there might be previous "bad credit" in the background.

Hi boys1211

Stay focused, the end is near for you!!! [:)]
Its tough and theres no extra pennies BUT you've only got 4 payments to go!!! woop woop

You've come this far scrimping n scraping, You can do it!!!! [:)]

This is amazing - imagine having nearly £1k to save/use in the next few months!

I know Backontrack it's a bit awesome eh ??? After having years & years of drowning in debt it's starting to feel good that there is deof light at the end of the tunnel !!!