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|When you finished your Trust Deed , you rightly felt a huge surge of relief. That was it 鈥?the debt solution that finally helped you overcome your debt-laden life. What you may not have counted on was just how much your Trust Deed may affect you in the years to come.
If you鈥檙e now finished with seeking debt help, but instead need mortgage advice after completing your Trust Deed, read on.
First of all 鈥?It IS possible to obtain a mortgage following a Trust Deed
While it may take longer to secure a mortgage, it鈥檚 entirely possible that you will one day own your own home. But before then, there鈥檚 something you need to do鈥?p>
You must stick religiously to a budget , and manage your finances responsibly
That means no late payments, no defaults and certainly no debts that go to a collection agency. If you feel that you鈥檙e struggling with debt again, you must seek debt help as soon as possible to explore debt solutions.
A key question 鈥?How long after your Trust Deed can you apply for a mortgage?
A Trust Deed runs for four years. Once this debt solution comes to an end your credit record will reflect the successful completion of your Trust Deed, after which time it will remain reflected on your credit history for a further six years. For these six years your options for credit products will be limited, especially in terms of a mortgage. What鈥檚 more , even when these six years have passed, the fact that you need to declare your Trust Deed debt solution as part of the mortgage application means that it鈥檚 highly unlikely that you鈥檒l receive a good interest rate.
That said, there are steps that you can take to reduce the time you need to wait and increase your chances of obtaining a mortgage on favourable terms.
After your Trust Deed - Top tips for a better chance of obtaining a mortgage
1. Save as much as possible for your deposit
A larger deposit will always make you more appealing as a borrower, as it reduces the risk to a lender.
As you鈥檙e now free from the repayments that you were making to your Trust Deed, you may want to consider using this money to save for a deposit instead.
2. Use a mortgage broker who鈥檚 aware of your past Trust Deed
A broker is an excellent source of debt help for those who鈥檝e finished a Trust Deed. They have free access to the mortgage market and will be able to advise as to which lenders are most likely to accept those who鈥檝e used debt solutions previously.
This also avoids the impact that approaching multiple individual lenders can have on your credit report , as each lender鈥檚 check on your file will leave a 鈥榤arker鈥?on your credit report.
3. Use a free credit report tool to rebuild your credit after using a debt solution
Checking your credit file can help you pick up on any incorrect information that鈥檚 held about you that may harm your chance of mortgage approval.
As a starting point, you may want to consider applying for a 鈥楥redit Builder鈥?credit card, as you may be unable to receive approval for mainstream lending. If you do choose to use this type of card, just be sure to repay the balance in full every month.
4. Be prepared to explain your past circumstances
Why did you originally seek debt help in the form of a Trust Deed debt solution? Being willing to answer this question can help lenders understand whether there were any extreme circumstances that led to your debts, and how this would be unlikely to reoccur in the future. This may not apply to everyone (such as those who needed debt help after poor financial management). However if you were ill or made redundant , which then led you to need a debt solution, it鈥檚 certainly well worth explaining this to your mortgage broker.
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Virtual World of Games: An Escape from Real World
Posted by wakeandgame on March 8th, 2016
We all live in a world full of tensions, stress, burdened responsibilities and irrelevant pressure. People out there have to work extremely hard to earn the lifestyle they aspire to. Getting up early , freshening oneself and then running to one’s workplace to hit the targets and impress the boss is the daily routine of a person. But, there comes a time when a person is fed up of this daily routine and wants to run away for some time that is when the world of gaming comes into the picture.
Games have always been the best stress buster, making people hassle free from ages. When a person couldn’t bear any more of the daily stress, games come into the rescue and take that boredom and stress away. With the coming of the technological era, indoor games were to rise , everyday new games are being launched with more effects and adventures.
Advantages of Gaming:
Boosts Happy Hormones
Increasing Educational Benefits
Gains social skills
Induces team spirit and confidence
Improves hand- eye coordination
These are some advantages of gaming and also it is a mode to escape from the real world and feel pleasure in the virtual world. The Latest computer games, console games, Xbox, play station is the new trend which is followed by the children and even by the adults; everybody is fond of these games. Now day, latest games are The Legend of Zelda , Dark Soul III, Uncharted 4, Tom Clancy’s Division gathering mind’s of the people and blowing them off with exciting missions and 3D effects. Gaming Reviews have become the most important news for the gamers, as after the reviews a person decides to pursue the game or not, if yes , then runs to the market for purchasing the game and enter the virtual world.
Latest PC games are taking away all the attent.