Anyone secured a mortgage after TD

boomblast

Hi I'm just wondering if anyone has managed to secure a mortgage after a trust deed, I hear mixed story's but haven't actually heard from anyone has done it, I'm discharged later this year and would hope to buy in a year or 2, what kind of mortgages would I qualify for im guessing there would be no chance of a high street lender? I am lucky enough to earn a high income of around 100k a year, I am looking at property's at 275-300k and hope to have 50k as a deposit.

Any help much appreciated, thanks.
Boomblast

Dave_Ham

It all depends on the detail, but certainly it does not stop you achieving a mortgage again.

How long ago it was registered is one of the biggest factors, as is what part of Scotland you are looking to buy (as many lenders do not venture outside of the main cities)

That coupled with how you are now managing your finances on a full underwrite will determine success.

Would say on the basics provided and with that deposit, you certainly will have options..

Good luck

boomblast

Thank you for the quick reply, I live in aberdeen so are looking to buy in this area, my credit file doesn't look as bad as I thought it would do aswell, think there's 2 or 3 defaults because of the trust deed so they will become settled once im discharged in a few month, I have been managing my finances well And in a yrs time my annual wage will rise to around 140/150k so Im hoping the more I earn the easier it will be as long as I keep on top of things this time. Thanks.

Dave_Ham

Sounds like a plan, when did you start the Trust Deed?

boomblast

2 and a half years ago, I should be discharged around April time

Dave_Ham

You may need to put 3 years + between dates and it will get easier as time elapses and the rates will be more desirable although should be options.

Good luck