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  • FIRST POST
    • grangers72
    • By grangers72 5th Jul 17, 11:44 PM
    • 119Posts
    • 82Thanks
    grangers72
    Mortgage Application
    • #1
    • 5th Jul 17, 11:44 PM
    Mortgage Application 5th Jul 17 at 11:44 PM
    I know this has been asked many times before - but I know things have changed over the years based on past threads.


    I went BR in November 2009, was discharged June 2010 and the BR ended November 2015. After a couple of weeks all my defaulted accounts had dropped of my credit records - I have had a Vanquis CC which I use for work expenses and are paid off in full each month. I had no problem getting credit for a car (I know that being paid BR and getting car finance may seem a little irresponsible - but this is fully covered by a by car allowance from work).


    We are now looking to buy our house - for the past five years our lives have changed somewhat with our jobs and through hard graft are earning significantly more than my pre BR days - and I have a good credit rating. I don't show on the Insolvency Register either.


    Question is the mortgage application asks if I ever ever been made bankrupt - of course I want to put yes, but do I need too? My mortgae advisor suggest not If my credit record is clear, but I am not sure if I agree with that.


    Have people found that being an Ex BR - even though the BR has finished, credit rating is very good and income significantly higher - has caused problems with mortgage applications in recent years?


    Thanks in advance foe your advice
Page 1
    • Flyright
    • By Flyright 6th Jul 17, 6:36 AM
    • 308 Posts
    • 171 Thanks
    Flyright
    • #2
    • 6th Jul 17, 6:36 AM
    • #2
    • 6th Jul 17, 6:36 AM
    Absolutely you must answer that question as 'yes'. In any case a search by any mortgage provider will soon find details of your bankruptcy via the Gazette.
    • TheGardener
    • By TheGardener 6th Jul 17, 6:54 AM
    • 2,167 Posts
    • 2,051 Thanks
    TheGardener
    • #3
    • 6th Jul 17, 6:54 AM
    • #3
    • 6th Jul 17, 6:54 AM
    A Mortgage Advisor that suggests you lie Perhaps its worth looking for another Mortgage Advisor?

    You are right not to agree with the MA - any lender would carry out full checks on the application and the record of your BR will be there in the Gazette as Flyright says.
    • peterkay369
    • By peterkay369 6th Jul 17, 1:22 PM
    • 161 Posts
    • 68 Thanks
    peterkay369
    • #4
    • 6th Jul 17, 1:22 PM
    • #4
    • 6th Jul 17, 1:22 PM
    A Mortgage Advisor that suggests you lie Perhaps its worth looking for another Mortgage Advisor?
    Originally posted by TheGardener
    Take this advice! Will take approximately 20 seconds for a mortgage provider to find history of your bankruptcy whether it's on your credit record or not.
    • kingstreet
    • By kingstreet 7th Jul 17, 8:24 PM
    • 32,215 Posts
    • 17,252 Thanks
    kingstreet
    • #5
    • 7th Jul 17, 8:24 PM
    • #5
    • 7th Jul 17, 8:24 PM
    I can think of one lender in particular which instructs brokers to answer no to the IVA, bankruptcy, CCJ and default questions if these were registered (registered, not discharged) more than six years ago.

    If I was submitting an application to this lender for the OP I would be able to follow the instructions and answer 'no' honestly.
    I am a mortgage broker. You should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice. Please do not send PMs asking for one-to-one-advice, or representation.
    • peterkay369
    • By peterkay369 7th Jul 17, 9:47 PM
    • 161 Posts
    • 68 Thanks
    peterkay369
    • #6
    • 7th Jul 17, 9:47 PM
    • #6
    • 7th Jul 17, 9:47 PM
    I can think of one lender in particular which instructs brokers to answer no to the IVA, bankruptcy, CCJ and default questions if these were registered (registered, not discharged) more than six years ago.

    If I was submitting an application to this lender for the OP I would be able to follow the instructions and answer 'no' honestly.
    Originally posted by kingstreet
    It would depend on how the question is worded.

    Some ask,
    "Have you been bankrupt etc in the last six years?"

    Whereas others ask,
    "Have you ever been bankrupt etc?"

    You neee to answer honestly based on the question itself.
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