Notifications
Clear all
Scottish Trust Deed Forum
2
Posts
2
Users
0
Reactions
1,706
Views
Topic starter
23/02/2011 10:46 am
I signed my Trust Deed in May 2005 and completed it after the 3 years.
I just wonder how long this and all the bad credit prior to the signing of my Trust Deed will stay on my credit report?
I am in the process of saving for a mortgage and don't know when the right time to apply is.
Is a mortgage attainable after a Trust Deed?
Advice welcome
23/02/2011 11:56 am
Hi Nocchie. Welcome to the forum and congratulations on completing your trust deed.
Anything that goes on your credit record stays there for six years. It would therefore appear that your trust deed will drop off your credit record in the next few months.
The fact that the trust deed is no longer on your credit record will be very helpful in getting a mortgage. Other factors include ensuring any Default Notices on your credit record are marked as "satisfied", making sure you're on the electoral register, and rebuilding some good credit history through sensible use of credit.
There's more about all of this at:
http://www.trust-deed.co.uk/lifeafteratrustdeed.php
In terms of the right time to apply for a mortgage I think it would be best to find a local mortgage broker and talk it through with them. Everyone has very different circumstances and the brokers job is to compare your unique circumstances to current mortgage product availability.
Qualified Debt Adviser & Forum Administrator - Ask me anything about Trust Deeds 
