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16/02/2019 10:47 pm
Hi all,
For those out there at wonder about the possibility of ever getting a mortgage after being in a trust deed
1. Next month, I will have been discharged for 3 years
2. On the same date, it will have been 7 years since i entered my trust deed
3. Last month, I got accepted for a mortgage of over 150k requiring only a 10% deposit
Don’t despair, there is life after the trust deed process 🙂
Every end has a start !!
17/02/2019 9:54 pm
Great news TimeLord - thanks very much for sharing it with us.
Scottish Debt Solutions Expert - Ask me for help setting up a Scottish Trust Deed or Debt Arrangement Scheme plan.
18/02/2019 8:31 am
That is fantastic news Timelord.
Congratulations on your new home and thank you for sharing such positive news on the forum.
Sharon is no longer posting in the forum.
18/02/2019 3:34 pm
Hi Timelord,
That’s excellent news and I’m sure will give a lot of encouragement to other people considering their options to deal with their debts.
People are always worried about their credit ratings and trying to keep this intact but it’s about focusing on getting out of debt and then building this back up.
There is always life after a Trust Deed and posts like this help reassure people.
Good luck in your new home and enjoy the house warming!
David is not currently posting in the Trust-Deed.co.uk forum
07/03/2019 8:07 pm
That's great to hear. Myself and my husband are. Looking to move and we will be 7 years since we entered this November. We are just working hard to get everything in the best position before applying. Our credit rating are now stating
excellent or good so fingers crossed for us applying at the end of the year......
suzie
23/11/2019 8:21 am
Hi Timelord,
Thanks for posting about your success. It definitely helps to read these.
Similar to your situation, I have been discharged from my trust deed for 2.5 years and entered it in Apr 2013 so no longer on my credit file and I can't see anything on AIB register (it's obviously still on Gazette though [:(!]). I am also looking to get a joint mortgage and we have saved a 10% deposit. I have a pretty clean credit file now and decent score with all 3 credit reference agencies (have 3 credit cards that I've been using very responsibly to build up my score).
Just wondering if your mortgage was with a high street lender and was it a decent rate or did you have to pay a higher rate because of the trust deed history? Did yoru mortgage application specifically ask if you EVER had a trust deed?
I recently spoke to a mortgage broker who advised that we should try to get the mortgage in just my husband's name to get a better rate, but that would mean paying a 25% penalty on the savings in my lifetime ISA so this is not our first choice. I am wondering if it would be worth applying (through the broker) to one of the lenders people have mentioned on the forum that they have had success with to see how it goes first, and if it's declined then we can go for the option of getting it in just my husband's name.
Would be good to hear anyone's thoughts.
23/11/2019 11:45 am
Hi Mickey, was the mortgage broker you used a specialist in adverse credit? Or a regular search all of the market broker?
23/11/2019 1:12 pm
quote:
Originally posted by DASdude
[br]Hi Mickey, was the mortgage broker you used a specialist in adverse credit? Or a regular search all of the market broker?
Hi DASdude, I believe he is a regular search all of the market broker, but he has got a good reputation in my area.
I've seen a few peole mentioning getting a mortgage with Halifax, so don't know if I should risk applying there to see what happens (could run it past the broker first). If it doesn't work out then my husband can go for an application on his own. Just trying to avoid losing 25% of my savings.
23/11/2019 4:22 pm
Hi Mickey
I replied in your other post.
