Hi Bond007 and welcome.

Yes, you should answer the questions as they are written.

Whether or not they're on your credit file isn't relevant.

Some people might choose to take a chance on this, but there are ways of it being exposed, it might be seen as mortgage fraud, and it might have other serious long-term consequences for you.

Basically, whether we like it or not, banks are free to ask pretty much whatever they choose and use that information as they see fit.

Hi,

Many thanks for your response and clearing that up. It would not have felt right to lie on the application, however I do feel that the application will now be rejected.

Has anyone else had a similar experience?

Many thanks in advance.

Welcome to the forum, Bond007. I can understand you fearing the worst, but I wouldn't write off your chances so soon. They won't necessarily be too concerned about an insolvency that ended a few years ago.

Good luck, and let us know how it goes.

Hi Kevin,

Thanks for the response. I will be arranging an appointment this week to speak with a broker. I will keep all posted as to how it goes.

Speaking with a broker makes sense.

Good luck Bond007.

How long have you been free of the TD?

I was just approved for a mortgage with The Nationwide and I have only been discharged for two years. The TD would still have shown up on my credit file.

Good luck.

Hi,

I was discharged August 2010 and tried after this to get a mortgage with no luck so have decided to leave it till he 6 years are up which is now.

Seeing broker next week, so will feedback any outcome.

Kind regards

I actually came on here in similar vein only to find BOND007 had raised a similar query.
But to continue with it anyway...My TD ends next February and I have seen various posts on here regarding mortgages post TD.
I was just wondering, I was on one of the comparison sites, hypothetically looking of course, but I was intrigued to see the question raised, "Have you had any CCJ'S,IVA's or been declared bankrupt within the last TWELVE MONTHS ?
Firstly can I ask, is the honest answer to this yes or no ? Is a TD covered by any of these options ?
And secondly, I was under the impression that in most circumstances you would not be considered for a mortgage within a six year period of it starting, or to put it in more of a "glass half full" perspective, three years after it finishing !
Does this mean that you would be considered more favourably after the twelve months stated on the website or is the six year period still the time period you would go by ?

Hi A.D.

I guess the honest answer is "no" but I doubt that will help you much I'm afraid.

A comparison site is looking to develop leads to sell or from which to generate a commission later. These questions are there to "qualify" the lead.

Why is a trust deed excluded? Probably just because they know little about them or aren't especially interested in the Scottish market. In reality mortgage lenders see protected trust deeds as being pretty much one and the same as IVAs. This would become apparent if you applied for a mortgage - mortgage lenders are well up on this type of thing and would likely ask about trust deeds or personal insolvency in general.

I wouldn't read too much into the questions that a comparison site asks.

TDA you have hit the nail on the head regarding englandshire not having a clue about trust deeds. Most companies class it as an IVA,so if the question is asked treat the word IVA as trust deed. A fraudulently answered question may live with you for a very long time,so honestly is the best policy. Remember that many financial institutions keep records for longer than the 6 years anything is on your credit files so be careful when filling in forms.

Paul

The providing of mortgages post trust deed still amazes me in this day & age.

If you looked at it logically, then the majority of no's will be dependent on a credit file for some historical financial past. I'm sure if you looked at 2 average samples you would have someone who has went through the trust deed and has no debt with available income to service a mortgage. The other has the same income, but never went through the trust deed and probably has associated debt to go alongside the mortgage. So in theory case 1 is a better risk, but in practice case 2 is more likely to get the mortgage.

Weird!

Mark

The thinking is that if you have defaulted before you are statistically more likely to do so again.

Not sure where they get their stats from!

Paul

The thing is Mark that "2" might be more likely to be offered a mortgage, but with significant debts the affordability calculation is likely to result in a mortgage offer of an insufficient sum of money for their needs.

Still on the same subject...
As I have stated previously, I am possibly taking early retirement after 32 years when my trust deed finishes early next year.
Now I know that once I have been discharged, then that literally is the end and nobody can forward a claim against any money I may come into after the conclusion of it all. Obviously that is the reason why my retirement plans are on hold until then.
Going back to the mortgage post TD, would the fact that I may be in a position to put down a sum of say £30,000 on a property costing for talking sake £60000 give me a better chance of getting a mortgage, or is the fact that I can pay a 50 per cent deposit neither here nor there given the fact that I was in a TD and would I still have to wait three years before being considered for one bearing in mind by that time I will be 60 ! And if again, just for talking sake I WAS accepted, would the lender be amenable to the remaining 50per cent balance be payable over ten years given that on conclusion of this hypothetical mortgage I would be 68, health permitting ? The thought of living in rented acommodation for the rest of my days is quite depressing !