mortgages for discharged trust deed/ IVA's?

Question

Does anyone know what companies offer mortgages to people who have been discharged from Trust Deed (Scotland) or IVA's? I know that some compaies do offer these and the interest is usually much higher than normal but I do not know the names of the companies.

Thanks in advance

Answer 1

All Banks & Building Societies will run a Credit Check and discover your situation.

Typically they will :-
1) Demand that you find a 'Guarantor' (some-one who will pay the Mortage if you can't)
2) Put down a higher than normal Deposit
3) Pay a higher rate of Interest than normal

Of course you can always go to a 'Mortgage Arranger' who will be happy to charge you a few ££££ thousand and stick you with some obscure provider you never heard of that will only ask for twice as much of one of the above (yeah = number 3, double the Interest rate).

I suggest you start by speaking to your Bank = it's a good way to discover the 'worse case' demands :-)

Answer 2

the uncomplicated distinction between the very own loan as a protection tool and a Deed of have faith is that in the time of a Deed of have faith there are 3 events in contact, the borrower, the lender, and a trustee, while in a private loan document there are purely 2 events in contact, the borrower and the lender. In a Deed of have faith, the borrower conveys call to a trustee who will carry call to the valuables for the income of the lender. The call maintains to be in have faith until the very own loan is paid. frequently a call business company, escrow business company or financial enterprise, is listed because of the fact the trustee on the Deed of have faith. while the very own loan has been paid, the trustee will difficulty a launch deed or trustee's reconveyance deed. This deed of reconveyance could be recorded on the county recorder's workplace, to make public observe that the very own loan has been paid and that the lender's interest interior the valuables has ended. yet another distinction between a private loan and a deed of have faith is the suitable way foreclosure complaints ensue. State regulation will determine the ideas-set of foreclosure which could be used. oftentimes, the regulations while utilising a Deed of have faith enable for a speedier foreclosure time than with a judicial foreclosure required with a private loan. below a Deed of have faith, while the borrower defaults on the very own loan, the lender supplies the Deed of have faith to the trustee, who then is on the spot to sell the valuables.

Answer 3

Hi.

This company could help you as they deal with mortgages with adverse credit history :
http://www.e-financialaffiliates.com/track.aspx?cid=26&efid=3492

Answer 4

I think I saw a list at www.bestmortgageanswers.info