In what way wary? Yeah the broker explained how the scoring works and said if they're willing to potentially lend to you they go by your credit score on Experian to determine it. It goes from grades A-C and if they won't lend then its a fail. If it's a C then it's 65%, B 80% and A is the best. After that he said its all about how attractive you are as a customer, so at this point everyone will be different in how they're viewed.I think most of the AIP that are pulled are due to incorrect or inaccurate information provided i.e. That dreaded question have you been bankrupt or involved in a IVA/DMP in the last 6 years? Well that would be yes. I'll see how it goes and can only try.. I'm sure I can try someone else if it doesn't go anywhere

I called Halifax direct and asked a load of questions. They said as I had the trust deed within the past 6 years I'd need to declare it when it asks the question about bankruptcy and IVA. If I didn't it would be a fraudulent application. If I left it until 2019 before applying then I would not need to declare it hence why some brokers automatically tell you this. So 6 years post trust deed! Good news is they accept applicants post trust deed and look at every application individually. Longer you're out of it and the better the rest of your application the better. They said Pretty much what the broker advised me. However if I had only just entered the trust deed within 6 years that would be a different story .. I wouldn't pass the AIP anyway due to the credit scoring. Main aim to repair your file to get to the AIP stage and take it from there. Hope this helps anyone. I'll let you know how I get on come March when I'm ready to give it a shot

Many lenders will use the language; example from TSB "If the applicant has ever entered into one of the above arrangements within the last 6 years then the application will be declined." The key part is having entered in the last 6 years. TSB Clarify this by saying "Other than bankruptcy orders still in place, all other events that were registered over 6 years ago are acceptable subject to credit score"

This usually means that you must be discharged (a given) and that 6 years have past since you signed the paper work to grant a TD or Sequestration etc.

If you search the lending criteria for any lender you will find their DIP requirements. Santander will be a non starter, they will not lend to any one who has ever been in a IVA TD, BR etc so don't bother with them.

Good Luck

Thanks Pingpong. That's how I am looking at it. From what the broker and Halifax themselves have said they've same criteria as Lloyds. I've been honest from the start and it'll be 3 years since my trust deed was satisfied come March, so hoping that helps too. I'm 1 year out of the '6 years'

Yeah, sometimes the language they use in their lending criteria is ambiguous and open to interpretation.

Good luck whoever you apply to. I have a meeting with my broker this week where I'll be submitting my application. Their criteria state they would decline if a bankruptcy/IVA was detected. I take that to mean on the credit search, which it wouldn't. It'll only come up when the solicitor does their bankruptcy search near completion.

My broker said he spoke to them before applying for the DiP with them and they said they would consider the application if I was discharged.

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Originally posted by Suits2017
[br]Thanks Pingpong. That's how I am looking at it. From what the broker and Halifax themselves have said they've same criteria as Lloyds. I've been honest from the start and it'll be 3 years since my trust deed was satisfied come March, so hoping that helps too. I'm 1 year out of the '6 years'

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Our timescales are spookily close [:D]

quote:

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Originally posted by Suits2017
[br]If I left it until 2019 before applying then I would not need to declare it hence why some brokers automatically tell you this. So 6 years post trust deed!

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Wouldn't 6 years after be 2020?

I completed the trust deed in 2016 so I'd assume they meant from when it was completed and removed from my credit file? So that would be 2019. If it's from when it's satisfied then that would be March 14, so yeah 2020! Hopefully I don't need to wait until then though! Good luck with your application, let us know how you get on and I'll comeback after I've gone through with mine in March

I meant I completed it in Nov 2013, so 6 years from that would be 2019.

Mapleaf what lender have you applied to for reference?