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Scottish Trust Deed Forum
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Topic starter
08/03/2013 11:36 pm
Hi. I finished my PTD last year with no issues and awaiting form 5 discharge (PPI to be finalised).
I checked my credit record to see that the default dates vary significantly.
Is it worth and possible trying to get them to change the default date now with the PTD date?
or will I still need to write afterwards to get the file updated with discharge date?
I do not think I received a copy of any formal document regarding PTD; I did receive a letter from Trustee confirming it had been accepted. what documentation might I need to correct the Trust Deed date?
I feel frustrated waiting on discharge and feel I want to do something to get records accurate if possible.
I am due to change mortgage in May and I wanted to be able to tell them I had been discharged so I would not be unnecessarily penalised, however, my IP will apparently not discharge me until it is all finalised (even though it was started in 2009).
Anyway, the question is that of correcting my records so I can move forward and put this behind me as quickly as is possible.
Thanks.
09/03/2013 12:06 am
The trust deed will still be on file until 2015 but no reason not to sort out the default dates now.
Have you spoken to anyone about changing the mortgage ss it could be difficult with the td on file?
Paul
Trust deed completed Jan 2012,Trustee discharge Nov 2012.
A new dawn.
Topic starter
09/03/2013 12:34 am
It is a fixed term which comes to an end.
By good fortune and start date, it will default to a Base Mortgage Rate which is lower than their Standard Mortgage Rate; however, they have written to say existing customers get better rates for fixed or tracker deals. It is Nationwide and I have been with them with no defaults or late payments since my mortgage began. If I was to explore what options, I wanted to prove to them the TD had been satisfied.
It may well be better to move to the BMR for now but I did want to know what options I had.
Thanks for the prompt reply.
09/03/2013 9:00 am
I have stuck on tsb standard variable rate for about 3 years now. I cant get cheaper.
Good luck.
Paul
Trust deed completed Jan 2012,Trustee discharge Nov 2012.
A new dawn.
09/03/2013 2:42 pm
This has got me thinking as our tie in rate is coming to an end in a few months. It's below our BS standard variable so a good rate was wondering if anyone has renegotiated after discharge?
Completed 3yr TD Sept '12 discharged Sept '12. Trustee discharged Jan '13
Building up savings.
Topic starter
10/03/2013 11:54 pm
PlasticDraft -
My fixed term was taken in 2008. I was very fortunate that the fixed term agreement at that time was that the rate would revert to the Base Mortgage Rate (BMR) rather than the Standard Mortgage Rate (SMR) which is higher, and which all mortgages from 2009 would revert to. I have not spoken with Nationwide yet. I am hoping that my payment record with them will stand me in good stead for options, but did want to be able to show them the Form 5 so help off waiting for it.
11/03/2013 9:24 am
You have more chance of fixing your mortgage post trust deed if the rate you are on is less than the one they want to fix you at. For example I am on a rate thats guaranteed to be no more than 2% above the bank of england base rate.The cheapest rate lloyds want to fix me on is about 4.5%,meaning if I do change I will be paying more a month.
If you want to shop around,waiting until the trust deed drops off your credit files(along with associated defaults) will open up more options for you.
Paul
Trust deed completed Jan 2012,Trustee discharge Nov 2012.
A new dawn.
11/03/2013 10:46 am
The only problem with sticking to a cheaper variable rate is that it would rise if base rates start going back up. Some people may prefer to go for a slightly more expensive fixed rate so that at least they have the security of knowing what their payments will be for a fixed term.
Then again, who knows whether the bank of england base rate will be increased at any time soon. Answers on a postcard please....
Scottish Debt Solutions Expert - Ask me for help setting up a Scottish Trust Deed or Debt Arrangement Scheme plan.
11/03/2013 10:49 am
Its got to jump up 2% for us to be worse off so as for stick or twist,I'll stick for now!
Paul
Trust deed completed Jan 2012,Trustee discharge Nov 2012.
A new dawn.
