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Chances of getting a mortgage after Trust Deed
Newhome21
Posts: 14 Forumite
Hi all, first time poster but I have seen lots of great advice on MSE before so thought I would check to see if you lovely people could give me some help / guidance or thoughts on my situation and whether this is realistic or not, any help would be very much appreciated - sorry in advance for the long post.
Looking to purchase a new build (estimated completion Mar/Apr 21) with a 15% deposit
Current mortgage is with Halifax and has been for over 11yrs - never had any issues/payment problems (Didn't need a payment holiday due to coronavirus)
Concerns: both my partner and I had a trust deed in 2014 - Recently fallen off our credit files, any associated defaults either have or are just about to fall off within the coming weeks - Credit Reports are looking fair/good.
we have no other finance: car is paid off, credit cards are at £0 balance, no loans/HP
we are both in Full Time employment (Take home pay is £3,500pmth) - neither of us have been affected with coronavirus (thankfully)
Do you think we have any chance of getting a mortgage with Halifax or any other provider now that 6years has passed and if so is 15% deposit sufficient or would we be needing more?
Has anybody managed to get a mortgage after a Trust Deed / DMP / IVA?
Thanks in advance.
P.
Looking to purchase a new build (estimated completion Mar/Apr 21) with a 15% deposit
Current mortgage is with Halifax and has been for over 11yrs - never had any issues/payment problems (Didn't need a payment holiday due to coronavirus)
Concerns: both my partner and I had a trust deed in 2014 - Recently fallen off our credit files, any associated defaults either have or are just about to fall off within the coming weeks - Credit Reports are looking fair/good.
we have no other finance: car is paid off, credit cards are at £0 balance, no loans/HP
we are both in Full Time employment (Take home pay is £3,500pmth) - neither of us have been affected with coronavirus (thankfully)
Do you think we have any chance of getting a mortgage with Halifax or any other provider now that 6years has passed and if so is 15% deposit sufficient or would we be needing more?
Has anybody managed to get a mortgage after a Trust Deed / DMP / IVA?
Thanks in advance.
P.
0
Comments
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Sorry as I don't seem to be getting any responses to this query - Does anyone know if this is posted in the wrong forum?
New to this forum so not sure if it's in the right place or not
1 -
The problem you have is most people are not familiar with a Trust Deed on this forum.
Plenty of people have got mortgages after being in debt, after bankruptcy etc.
You will need a broker who understands TDs.
I used an English broker (who posts on MSE) as I didn't like the way one spoke to me, when I popped in to make enquiries one day.
@ACG is the broker I used and thanks to him I'm sitting in my own home.
Mortgage started 2020, aiming to clear 31/12/2029.1
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