Credit file, old repossesion and mortgage

Moonwax

Whats hard....?

£50k that no one. Has asked for,i have no record of owing.

Oh and £50k isnt easily available!

Thanks for the input though...

Oh and the 6 years is up next year

ACG

Most of my business is for adverse mortgages, if i held something like this against my clients i wouldnt be in the right job.

But whether its on your file or not, you have a duty to disclose. Imagine worse case scenario, you answer the question as no and it gets found out. Its then on the hunter system and i would imagine you will never get a mortgage again.

I dont know whether that will happen or not - as far as im concerned the less i have to know about that system the better, but would you prefer to have a mortgage at a higher rate or not have a mortgage at all?

Making a mistake is one thing, making a mistake and then lying about it is another.

Moonwax

Whats the hunter system?

ACG

http://www.nhunter.co.uk/

leveller2911

Thrugelmir wrote: »

Moan about the banks. Then on the other hand you wouldn't play by the rules. You cant cut it both ways. Banks have changed. The sooner people realise it the better.

I think the jury is still out on whether or not the banks have changed. What happend to all the cheap money they were lent by the Government for the lending to small business scheme?, didn't the banks gamble it on the equity markets etc rather the lend it to small businesses ?.
If they have changed then they shouldn't be allowing people to use tax credits,child benefit etc as income for affordability calculators.Banks must be laughing safe in the knowledge that the taxpayers are acting as guarantor for the help to buy schemes so they can sit back and take the money.

Thrug, I agree with most of your posts on the forums but I don't agree that the banks have changed. Still lending recklessly but the taxpayers are the ones bending over.

Moonwax

Thankyou.

I will check with them and see what info on me is on there.

Moonwax

Acg, one more thing.

If i were to come to you. Disclose all the above, am i likely to get a mortgage. This would be after 6 years is up (were saving for the deposit now.)

ACG

leveller2911 wrote: »

I think the jury is still out on whether or not the banks have changed. What happend to all the cheap money they were lent by the Government for the lending to small business scheme? - Did you not see the boss of RBS saying he has £20 million to lend but nobody wants it - those people are either not prepared to put their property up as security or not prepared the rates being charged - which considering how cheap borrowing is at the minute seems a bit crazy...

If they have changed then they shouldn't be allowing people to use tax credits,child benefit etc as income for affordability calculators.- Why? This income is probably safer than most as no government is going to withdraw it anytime soon otherwise they will be out at the next election.

Banks must be laughing safe in the knowledge that the taxpayers are acting as guarantor for the help to buy schemes so they can sit back and take the money. - Im personally not a huge fan of this either, but they are only offering to guarantee a percentage, if you think how much theyre going to make from stamp duty, VAT on solicitors and building costs etc, it will probably more than make up for any losses incurred.

Just wanted to add my thoughts, although probably going off topic from the OP thread again... sorry OP.

ValHaller

Moonwax wrote: »

Oh and the 6 years is up next year

As already pointed out, the Statute of Limitations on mortgage debt is 12 years.

Moonwax

ValHaller wrote: »

As already pointed out, the Statute of Limitations on mortgage debt is 12 years.

But at one point this mortgage was on my credit file as settled.
Now its not there..
So why would they come back and say you still owe us?