Mortgage....how soon after reposession..and is it possible?

torrevieja69

hello all.

I am new here...I had my house repossessed after sending the keys bank to the lending bank when i lost my job after my company went into administration in 2009, now whilst i understand this was not long ago I now have another great job, and i am able to save quite a lot of money in my savings account, obviously with another bank! do you think its possible to get a mortgage, for someone who has already lost one home? or should i rent as if they find me they can take the house from me to pay the shortfall form the old house although of course they have not advised me of any shortfall, i know there would have been one..... does the council of mortgage lenders not blacklist me?? so confused but really hate lining someone else s pocket!

Thanks

Newbie

opinions4u

You owe a mortgage lender money.

You are able to save.

You want a new mortgage.

Perhaps you should consider clearing your debts first before trying to get back on the housing ladder.

If I'm not mistaken, the repossession remains on file for 12 years. In today's market you won't get a new mortgage. I think it's going to be at least 5 years before you're in with a chance - and only if you've come to some sort of final settlement with the previous lender.

torrevieja69

well if i knew i owed them money i would sort it. I have contacted them several times by letter but not received one response, so i guess if they aint chasing me why should i chase them!, furthermore my credit file was never updated with a default, so its perfect...i changed my bank account obviously, and have a great rapport with them but wasnt sure if the CML would throw a spanner in the works!

GMS

CML data should report a repossession.

Lenders have differing attitudes to repo. Almost all will have a criteria along the lines of fully satisfied for x years.

If not satisfied then likely to cause problems.

opinions4u

torrevieja69 wrote: »

i guess if they aint chasing me why should i chase them!!

Because it will come back and bite you on the backside at a most inconvenient point in the future.

Your call.

torrevieja69

do they use personal info like NI number or passport details to know its the same person blacklisted with the CML for instance.... I might just buy the house I want cash as its not a high amount rather than risk it.....I got a mortgage in Spain recently with my current uk credit record so guess it cant be that bad as they have really tightened theyre belt over there.....hardly surprising when most brits there just handed theyre keys back to the bank and got the next flight home!

GMS

torrevieja69 wrote: »

do they use personal info like NI number or passport details to know its the same person blacklisted with the CML for instance.... I might just buy the house I want cash as its not a high amount rather than risk it.....I got a mortgage in Spain recently with my current uk credit record so guess it cant be that bad as they have really tightened theyre belt over there.....hardly surprising when most brits there just handed theyre keys back to the bank and got the next flight home!

I hope this is a wind up post.

If you have enough cash then why ask the question?

torrevieja69

why would it be a wind up just wondered of it was worth me mortgaging and keeping the cash....just dont want problems with the nations worst bank down the line...wont name them but theyre from yorkshire. (WEST)...they shudda gone bust!

GMS

torrevieja69 wrote: »

why would it be a wind up just wondered of it was worth me mortgaging and keeping the cash....just dont want problems with the nations worst bank down the line...wont name them but theyre from yorkshire. (WEST)...they shudda gone bust!

If you have cash why ask can you get a mortgage?

Funny how all banks are the nations worst when people fail to adhere to the terms and conditions of the mortgage.

torrevieja69

well Halifax is really well known for being a bucn of a**oles they shudda gone bust!

Thrugelmir

torrevieja69 wrote: »

well Halifax is really well known for being a bucn of a**oles they shudda gone bust!

They gave you a mortgage.

Did you move to Spain after handing the keys back?