Old Bankrupt do i need to Disclose for Morgage

peterae

Hi
16 years ago i was declared bankrupt for £7500, i now have a perfect credit rating and £70000 deposit and am looking at buying a house.

Looking at the online quotes they ask if you have been bankrupt, do i need to dislose this so long ago, will it show up on a search.

Thanks in advance

Peter

peachyprice

If the questrion is asked then yes, you do need to answer honestly. It's not unheard of for mortgage lenders to search the London Gazette, where your bankruptcy is recorded for all eternity.

peterae

Thanks, I wonder what that will add to the rate

VIGILANT22

I doubt yr rate will be affected...........

peterae

Oh right thankyou for that, thats a bit of a relief anyway.

:j

mclaren32

peterae wrote: »

Oh right thankyou for that, thats a bit of a relief anyway.

:j

I think that might be because some lenders may say no straight away if you have been made bankrupt, even in the past.

A broker might be invaluable to you in this case.

Dan_1976

16 years ago I would day you will be fine. If the application asks you should be honest.

It will not be on your credit file.

peterae

Well Thanks for the advice guys and girls.

I just applied for a mortgage, told him the guy at Britannia straight in our first meeting about the old bankruptcy.

He didn't bat an eyelid.

Although he filled all the forms in, i did look through the version we had to sign, and all i could see was did you have any adverse credit in the last 6 years:beer: So probably didn't even need to mention it, but thought i would play safe anyway.

I will start a diary on another thread so people can follow the time line.

FraudBuster

Thanks for the update.

peterae

Here's the link to my thread

Diary of a first time buyer

https://forums.moneysavingexpert.com/discussion/comment/35006425#Comment_35006425