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Topic starter
14/08/2013 9:51 am
Hi All,
As per my previous posts my trust deed has came to an end and I am just waiting for my Trustee to be discharged which will be within the next couple of weeks.
This is my scenario now. I have been offered a very high position within my company that I am seriously considering taking and this will probably happen December/January time.
This will mean I can now move from the property I am currently in and move to a property around £250,000 minimum! My wage will be 3 times what I am currently earning and I could easily afford this.
Now my question is, would my bank (Halifax) understand that things have seriously improved for me and although I have been in a trust deed they would approve a mortgage. I did not owe anything to the Halifax apart from my mortgage when entering the trust deed and have never ever missed a payment.
Does anyone have any thoughts, or is another 3 years in my property a must? Thankyou.
14/08/2013 9:59 am
To be honest, it all depends on the lender criteria. Some stipulate that you must be discharged for at least a year (but this may only be for new lending). Maybe someone within the mortgage broker field can answer you?
Good luck though and congrats on the promotion!
14/08/2013 10:15 am
Hello sam21.
It's not a very helpful answer, but I think you'll only find out by asking.
They'll have their rules and criteria against which your application will be assessed.
Good luck with the job by the way, it sounds like a great opportunity.
Qualified Debt Adviser & Forum Administrator - Ask me anything about Trust Deeds 
Topic starter
14/08/2013 11:18 am
Thankyou all for your comments, I will ask my bank and will let you all know.
14/08/2013 3:55 pm
Hi Sam21,
It's really good to hear that your financial situation is improving and have the offer of a higher paid job.
It may be the case that at the moment you are unable to secure a mortgage on a new property but in time as others on the forum have experienced are able to do so.
You may need to save a substantial deposit to put towards securing a mortgage on a house of that value. A lot of it comes down to lending criteria as tinsoldier has said and also risk for the mortgage company.
As TDA has said, best thing to do is ask Halifax or a mortgage broker and see what happens.
Good luck with things and let us know how you get on.
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