IVA or Trust Deed - Llloyds will NEVER, EVER lend to you

m22kk56_2

Hi all,

Just want to share my experience with others to warn them and prevent any similar negative experience

I completed my Trust Deed (IVA) and successfully rebuilt my credit file. It is now immaculate and shows no negative effects at all. My score is the highest possible on Experian, Equifax and Callcredit. I have no debt (yay!!!) and have only one credit card that is paid in full every month.

When talking to Lloyds (my bank) about a mortgage, they made it clear that the fact I previously had a Trust Deed means they will NEVER consider me for a mortgage. They must have recorded this info on their computer system somewhere (they hadn't done a credit search) It is company policy, despite the fact Lloyds were never owed any money from my Trust Deed.

I find it staggering that a publicly owned bank has a policy of NEVER lending to people who have made a mistake but have proved themselves capable of running their finances.

Do any other banks have this policy? People should be made aware of this potential negative before taking on the Trust Deed (IVA) because I was never told this might happen.

P.S - this criteria is the same with TSB

Anondebtadvisor

Not all banks have this policy so speak to a broker who should be able to help you find a suitable lender

Foxy-Stoat_3

There are plenty of other banks/lenders out there who WILL lend to ex-IVA'ers - all is still good with the World.