I think in the current climate, it will be difficult all round to get a mortgage and the existance of the Trust Deed will probably make the position worse.

The general information appears to suggest that this will be on your credit file for 6 years after the Trust Deed has started and then 'fall off'. I wonder if anyone on the forum has managed any type of remortgaging in the last 2-3 years.

Mark

Hello Sooz1978.

The following page may be of some help in terms of analysing your credit report and possibly taking some steps to improve it:

https://www.trust-deed.co.uk/repair-your-credit-rating.html

As mentioned by Mark, anything that goes on your credit report stays there for six years. Irrespective of that, taking steps to create some positive recent credit reporting is very important as well.

I was made a offer by the Halifax in the last couple of years while still in a trust deed .From my understanding most lenders will not offer you a deal/better deal unless the deed has been discharged for three years or more . My deal fell through due to the valuations differing and the LTV being to high as a result .

Hi Sooz1978, I finished my TD in Sept 09 and was discharged by Dec 09 (roughly). In Sept 11 (about 2 years later) I got accepted for a 75% mortgage with my current account bank. Earlier that year in March I had two offers in principle from two different banks that when the sale went to go through the offers were rescinded. My car broke down on me and I got a personal loan last month with my current account bank also. My TD still does show on my file and will not drop off till September. My current account with my bank has a debit card, cheque book and overdraft facility (I do not use this!) and I got this upgraded right after I was discharged. My personal experience is although it is harder to get credit if you are patient and look around their are usually options. With my mortgage and loan I did not get an immediate decision, I had to wait 5 days whilst the underwriters reviewed my application.