Hi Kylewi.

We've heard from plenty of people who have obtained mortgages after completing a trust deed.

The reality is that the longer you've been discharged, the better your chances.

We have heard of a couple of local credit unions who have considered applications after one year of being discharged, but I think most mainstream mortgage lenders will have product conditions of discharge having occurred longer ago than this.

Hopefully some members with personal experience of this will share their thoughts with you.

You may also find some of the information in the following article useful:

https://www.trust-deed.co.uk/repair-your-credit-rating.html

you can search most lenders criteria on line. I got a mortgage less that 1 year after discharge. Normally lenders require more that 6 years from entering into a TD, IVA BR, Sq.

I also made sure my closed accounts no longer showed up on the advice of my broker. make sure all the dates from your creditors are correct so these are removed too. the original default date i put as the date i signed the TD so everything comes off at the same time.

you mentioned there were no defaults make sure you also check your closed accounts

Thats for reply pingpong. There is one default showing in my closed accounts but thats due to come off this week. What broker did you use woth to get mortgage? Ive had a look only regarding lending criteria but they never mention trustdeed, its always says about an Iva. Which I think is the same thing but the English version? Thanks

Morning Kylewi

There are many contributing factors a mortgage company would consider with any application. These include level of disposable income, credit rating, deposit, loan to value etc.

In my experience, the longer you have been discharged, the better your chance for approval. I have seen many clients who have been discharged over the years that have been approved for a mortgage.

A mortgage advisor would be able to discuss your situation and advise you on whether or not you would be accepted for a mortgage and if not, would detail the steps to be taken to improve chances in the future.

Hope this helps.

Hi Kylewi

I recently got a mortgage with Scotwest credit union a year after discharge. It was a long process but got it at 90% ltv.
Slightly higher interest rate than bank etc but was only option.

Good luck.

Hi lp24 ive seen a couple of people say they have gotten a mortgage with scotwest credit union, apparently you meed to be from Glasgow area to be able to benifit from this? Not sure how much truths is in that!?
Thanks for the reply

Hi Kylewi,

According to their website you can become a member of this credit union if you live in:

"Argyll & Bute, East Ayrshire, East Dunbartonshire, East Renfrewshire, Glasgow, Inverclyde, North Ayrshire, North Lanarkshire, Renfrewshire, South Ayrshire, South Lanarkshire and West Dunbartonshire."