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Headwire
Advanced Contributor

53 Posts

Posted - 27 February 2018 :  12:12:56  Show Profile  Reply with Quote
On the 14th March this year my Trust Deed will reach the 6 year mark so I'm expecting it to finally fall off from my credit report. I have an appointment with a mortgage broker on the 23rd of March and I was just wondering if anyone had had any experience of how quickly the trust deed no longer shows up on your credit file. I know my credit report company updates at the end of the month so I wasn't sure if any potential mortgage lenders would be the same. Trying to figure out if I should hold off till the following month before trying for a mortgage that way it might give companies a bit more time to see an accurate reflection of my credit score.

TDA (Debt Adviser)
Trust Deed Expert



12423 Posts

Posted - 27 February 2018 :  12:27:12  Show Profile  Reply with Quote
Hi Headwire.

I'm not sure how immediately it will disappear from the various credit reference agency reports.

It certainly seems sensible to wait until you're sure it's not there before submitting a mortgage application (though this may be irrelevant for lenders who require disclosure in their application forms though).

Your mortgage broker may well know which credit reference agency any particular mortgage lender uses. This may be relevant if the different agencies don't update at exactly the same point in time.

Qualified Debt Adviser & Forum Administrator - Ask me anything about Trust Deeds    
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pingpong
Advanced Contributor

112 Posts

Posted - 28 February 2018 :  11:52:21  Show Profile  Reply with Quote
quote:
[i]Originally posted by Headwire[/i]
[br]On the 14th March this year my Trust Deed will reach the 6 year mark so I'm expecting it to finally fall off from my credit report. I have an appointment with a mortgage broker on the 23rd of March and I was just wondering if anyone had had any experience of how quickly the trust deed no longer shows up on your credit file. I know my credit report company updates at the end of the month so I wasn't sure if any potential mortgage lenders would be the same. Trying to figure out if I should hold off till the following month before trying for a mortgage that way it might give companies a bit more time to see an accurate reflection of my credit score.



you need to get your free reports from Noddle, Clearscore and MSE Credit club.
you need to check every account open and closed for the relevant dates and make sure they are correct especially if they are still defaulted
Any default should be the date you signed your PTD or awarded a Squestration
If the relevant dates are wrong you need to send a letter to each lender requesting they make the updates (this can be hit an miss but usually painless but can take up to 6 weeks)
Your public record information will automatically come off the day after your 6 year anniversary

I would hold off until you have done the above, your advisor will basically encourage you to clean these up before you go ahead anyway
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