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Scottish Trust Deed Forum
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Topic starter
08/02/2019 3:52 pm
I’m now 3.5 years post discharge from my trust deed and finding it incredibly difficult to get a mortgage. All the high street options say I need to wait until 6 years post discharge. The trouble is my wife and I need to move across the country for new jobs. Our income is going up so it’s great for our credit isssues but if we can’t get a mortgage it’ll really hamper our efforts. We currently live in a mortgaged home and without considering a trust deed our affordability would be massive. It’s just so frustrating as it is no longer on my credit report and my credit isn’t that bad anymore.
Does anyone have any advice? An experienced IFA or lenders that have less strict policies?
08/02/2019 4:02 pm
Welcome to the forum Wndrs.
If you haven't seen it, our article on this subject can be read at:
https://www.trust-deed.co.uk/repair-your-credit-rating.html
I think the key point here is to use a mortgage broker. The will be lenders prepared to consider an application from you. The issue is that they're not household names and some will only accept applications made via mortgage brokers.
If it's any reassurance, we've heard from quite a few people who have been able to obtain mortgages sooner than 3.5 years after discharge.
It's always worth checking if your mortgage is "portable" also. Some are. If it is you may be able to take your existing mortgage to a new home.
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