Hi scotland28.

The underwriter's job is to verify whether you meet the application criteria of the lender. We don't know what those criteria are, though some lenders might publish the detail online.

You've clearly answered the question honestly in a literal sense, but in spirit an IVA would clearly be seen as being comparable.

Will they go looking for an old trust deed knowing that you live in Scotland? Again we don't know, nor do we know how they'll react if they find one.

Some lenders might choose to keep their own records of former insolvencies, or might have records if they were a creditor.

Is it fair that your former trust deed remains more easily discoverable and new ones not? It doesn't feel fair in my opinion.

Hi TDA
thanks for your prompt reply.
surely had the question read "or entered into a trust deed in the last 6 years" the truthful answer would still be No as I entered into a trust deed in 2008.
Again only my interpretation of the question but would like to hear how others interpret it.

If they're only interested in the past six years there would be no reason to go checking sources other than your credit record?

Otherwise they might have asked "ever" instead?

Hi
just been going through the site ,as I do from time to time, and found this old topic of mine and realised I had not updated you on how everything turned out. How very rude and remiss of me !
Well I shall correct that..
Mortgage application submitted , passed and approved , house bought and we have been living in it for the past year +.
So yes there is life after a trust deed things can and do move on.
I purposely left any applications till after TD fell of my credit report and used the time to rebuild my credit worthiness by being squeaky clean as regards my finances, and I mean SQUEAKY CLEAN.
Going through the TD gave me a whole new concept of credit and how it should be used. I saved a fair size deposit and kept my current account well in the black in the time it took the TD to fall off my records. Using a mobile phone contract and my vanquis card also helped.
Once TD had disappeared I trotted off to a whole of market mortgage broker and was upfront about my TD , now for me this was a big mistake because he took it as a personal challenge to find me a mortgage by always mentioning my TD which only had the effect of putting mega footprints on my credit file, this route may work for some people but unfortunately not for me ! He never found me a mortgage , by the way !
I then went to my own Bank, a high street Bank I may add, had a meeting with the mortgage advisor who gave me this piece of advice "answer the question do not give me information I am not asking for" so I did as mentioned in this post above and the rest as they say is history.
I had done my homework before hand by checking the banks acceptance criteria and as far as I could see there was no reason for them not to accept my application which was proven to be the case.
I now also have a main stream credit card with them with quite a healthy credit limit , used responsibly and not abused as in my former life.
So yes a trust deed worked for me, there were some ups and downs rants and raves but all in all quite straight forward.
This site also helped me through it so for that a big thank you !
To all you fellow Trust deeders.............
Hang in there it does get better !!!

What a great post Scotland28. I am absolutely delighted for you that you have changed things around and have such a positive situation now.
Thanks for taking the time to share and encourage others.
Onwards and Upwards.

I'm so pleased for you scotland28 and a belated 'Happy new house!' to you [:)]

It's always nice to hear how things have worked out in a good way. Thank you for coming back to let us know [:)]

Hi Scotland28,

A really encouraging and supportive post for other people to take reassurance and comfort from.

The information about the whole of market IFA and about how open to be with information is useful. I also like the mortgage advisor at the banks attitude towards the information that they required to process the mortgage. I’m sure this information will help others.

All the best for the future and as Candlewick has said a belated happy new house to you!

Hi Guys
thanks for these belated good wishes much appreciated.
As stated above time has moved on for me and in a very positive way But I still come back and visit the site as often as I can because it was a very useful tool when I was going through my TD.
David , I think you joined the forum after I had been discharged so you would have missed all my rants and raves, Mark , Kevin ,Shona and of course the good old TDA all gave me invaluable advice and helped see me through to the end !
I have however been watching with interest your contributions to the forum and congratulate you on all the positive feedback you receive. You are a credit to the forum and your profession.
Keep up the good work.

Thank you scotland28, your comments are much appreciated.

More importantly, congratulations to you on putting your financial concerns long behind you and moving forward so positively.

Thanks for coming back on and for the kind words about the site. I'm very glad we helped to get you there in some small way, though in reality you've done all the hard bit yourself!

Very useful info about mortgages too. I've always thought that your own bank is often a good place to start, as long as you have been running your account well of course!

Congratulations on your new home!

Can I ask what all of the market broker did you use?

Hi GrangeLachie
I used first mortgage . As stated above did not work for me but I can't fault his effort trying to locate suitable mortgage for me.
Good luck in your search.

Thanks for those kind words scotland28.

I'm surprised your TD wasn't picked up by the solicitor during the bankruptcy search.