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Scottish Trust Deed Forum
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Topic starter
27/10/2011 10:45 pm
We are coming to the end of our trust deed in the next couple of months. We want to remortgage as we are on the standard variable rate with northern rock, we bank with Santander and could save £250 per month when them by doing this. When can we realistically, if at all, apply for a remortgage?
28/10/2011 10:11 am
Welcome to the forum kaytee and congratulations on reaching the final stages of your trust deeds.
I'm afraid there is no straightforward answer to your question. A recently completed trust deed will make it significantly harder to get a mortgage with a new lender on good terms, though this effect will decline over time.
However, your credit rating is just one factor among many that any mortgage lender will consider.
I'd suggest contacting a mortgage broker who will be able to look into your precise circumstances and advise accordingly.
Qualified Debt Adviser & Forum Administrator - Ask me anything about Trust Deeds 
Topic starter
29/10/2011 12:41 am
Thank you for the information. I will seek advice through a mortgage broker once all is paid off. Thanks once again. For all who are just entering into the trust deed, for us it has been the toughest 4 years of our lives paying back the debt but i am sure it was the best way to go so hang on in... 🙂
30/10/2011 7:25 pm
Hi kaytee
As TDA says, you have finished your Trust Deed, so well done. Yes it is hard, but hopefully it has given you the fresh start you needed. Trying to get a mortgage these days is hard for anyone - even with a good credit file! A mortgage broker is the best place to go, but I wouldn't pin your hopes on remortgaging in the very near future. If you are successful, please let us know.
Good luck.
Shona is not currently posting in the Trust-Deed.co.uk forum.
