Hi cheerykel.

I'm not sure that it will be helpful to you if someone points you towards a particular lender. There are just so many factors involved in a mortgage approval, of which an old trust deed is just one, that you could end up wasting a huge amount of time and effort traipsing from one bank to another.

I'd strongly suggest contacting a mortgage broker who can do the legwork for you and who will have systems to identify lenders who are more likely to be able to help you.

With a good deposit, good income and relatively low level of debt it would seem like you have a decent chance. Having said that, previous credit problems are still going to create a challenge and might result in increased costs if you're successful. Consideration, if it's viable, of a mortgage just in your husband's name might also be worthwhile as another option.

Hi Cheerykel,

Sounds like things have been going really well for you following your successful completion of your Trust Deed.

How does your credit file look at the present time? If you still have defaults on your file then this could cause a problem for you applying for a new mortgage in joint names even although you have a decent sized deposit.

It's probably something which a good mortgage advisor will be able to give you advice on. When we purchased our property last year, our financial advisor told us to check our credit reports to see what our credit score was and what our credit report looked like. My partner didn't have any credit history as she didn't have any debt but this showed her to be in the poor credit rating category. On the advice of our financial advisor the property was purchased in my name only to avoid risking any problems with a joint application and it being rejected and losing the house that we wanted.

I'm sure other forum users will be able to share their experiences of securing a mortgage after their discharge from a Trust Deed.

I've still got 4 defaults showing that should be settled, I have written to them all back
In Feb with a copy of the form 5 and have just done it again today. Is their anything else I can do? Oh and nationwide are considering my mortgage as it is over a yr since discharge so everything crossed!

Hi cheerykel.

If a previous creditor isn't responding properly to a legitimate request to update your credit file you may need to submit a complaint to them. Their complaints teams tend to have more discretion and influence to get things done.

I hope it works out for you with Nationwide. Still worth talking to a broker though in case it either doesn't work out at Nationwide or if they can find you another lender that can give you a better deal.

Hi Cheerykel.
Not quite the same scenario as yourself, but I was discharged in February and my trustee in May. I too enquired about a mortgage and the standard reply was I wouldn't be considered until three years after the completion of the trust deed. In fact the worst response was from my own bank who gave a timescale of SIX years after completion despite being a customer with them for nearly thirty years which obviously goes for nothing ! I'm sure that has deflated you somewhat, but the better news is that as suggested earlier, I phoned a few brokers as well as a financial advisor friend of mine and received a more positive quote of ONE year after completion albeit based on a deposit of nearly 50 per cent. As it turned out I bought a flat outright instead without the need for a mortgage at all.
Hope that helps and good luck