Hello danielspaniel and welcome to the forum.

I'd be pretty sure that once the ?ú3500 is paid your trust deed will be finished. Anything else would seem very unfair.

The situation with mortgages is very complicated as nobody knows what mortgage products will be on offer next year. It's also complicated because it depends on things like your income and how much of a deposit you will have.

The mortgage market is tight at the moment but we currently know of one High Street lender that, in certain circumstances only, will lend at reasonable rates to those who have recently finished trust deeds.

many thanks for the quick and detailed reply.

could you tell me how long it takes usually, after the final payment before i am officially discharged?

obviously if i am looking to obtain a mortgage then the quicker i am discharged the better. would the trustee inform the credit reference agencies or would that be up to me??

It will take a few weeks for the Trustee to sort out the final arrangements with the creditors and then to issue the payments to them.

You should not have to notify the credit reference agencies yourself.

What you may need to do (as you are looking to obtain new credit) is to start to rebuild your credit rating with some positive credit usage.

Obviously continuing to pay your existing mortgage on time every month is very important.

There may also be some advantage in obtaining a credit card and using it for a small purchase each month that can then be paid in full as soon as the statement arrives. The cards on offer to those who have just finished trust deeds tend to be at very high interest rates but, by keeping the balance small and paying in full on-time, the interest rate need not matter.

thank you very much