Hi trustdeed1.

We've certainly heard from members that have secured mortgages after trust deeds. Naturally the longer the period since discharge the more available mortgages seem to become and the terms they're offered upon are also likely to be better.

The voluntary repossession might be an additional challenge. I understand that some mortgage lenders ask about whether any such prior event has happened in their application forms.

As always with this subject, it would be best to take advice from a mortgage broker as it largely falls outside of our area of training and competence.

Regarding the Vanquis card, it's hard to draw definite conclusions. One lender might see Vanquis demonstrating trust in you as a very good sign. Another lender might see your new ability to borrow £1500 at pretty high interest rates to be a risk factor.

In general terms I'd look to use the Vanquis card as a staging point. As and when you can you'll want to move on to a card which is better value and reflects your improving credit status.

Hi trustdeed1

I think TDA has summed it up perfectly.

It been interesting recently on the forum with people obtaining credit cards at decent interest rates post trust deed and also car finance. I'm sure the mortgage side will be more difficult, but not impossible as there are a number of factors involved.

It would be interesting if you could speak to a broker and let us know how you get on.

Mark

There's a very clear sense permeating the forum that lenders are becoming more relaxed about their lending criteria.

I very much doubt that it will ever go back to the pre-credit-crunch scenario (of total madness!) but some of the unqualified fear amongst lenders seems to have dissipated.

I think you could be right. Certainly from the forum and outwith, there seems to be an increase in the number of stories where this has happened.

Looking at some of the recent posts, the obtaining of further credit post trust deed is essential for some and hopefully lenders are taking a more logical approach. I've never quite understood the scenario where a bank or finance company won't lend when there's a massive deposit for a property or the right to a car etc never pass until full payment is made. This in itself minimises any exposure to the lender, rather than the ' Computer says no' approach.

Mark