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Scottish Trust Deed Forum
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Topic starter
13/03/2013 3:09 am
one other question i have is can u get a mortgage and is it legal to do so if u have completed all your payments to your trust deed but aint received a discharge letter cause the case is still open.any info appreciated.
13/03/2013 7:54 am
Hi golf
The answer could get quite complicated in a number of areas, but generally under the terms of the trust deed there is nothing to stop you getting a mortgage, although unfortunately it is extremely unlikely that any lender will provide one.
Mark
Mark is not posting regularly in the Trust-deed.co.uk forum.
13/03/2013 8:46 am
Hi golf20,
As Mark has said there is nothing to stop you obtaining a mortgage and buying a property but this would complicate matters when you are at the end of your Trust Deed.
Obtaining a mortgage in today's market with the best of credit ratings is difficult so unfortunately unless you had a substantial deposit then it would be unlikely that you would obtain a mortgage. There have been other posts in the past from people on the forum who have finished their Trust Deed and after saving a large deposit have secured a mortgage.
Best to wait until your fully discharged from your Trust Deed before considering purchasing a property.
Chris is not currently posting in the Trust-Deed.co.uk forum.
