Default removal after 6 years

Thrugelmir

Surely if you say 'yes' to having defaulted at some point, you'll instantly be declined?

And if you say 'no', technically you're lying / fraud?

Depends on each the lenders policy.

That'll result in a record with NationalHunters. The consequences of which would be declines from the 95% of UK lenders who are members of the CML. .

Technoholic

Thrugelmir wrote: »

Depends on each the lenders policy.

That'll result in a record with NationalHunters. The consequences of which would be declines from the 95% of UK lenders who are members of the CML. .

Sorry, what will result in that record? Lying or telling them you have the defaults? Not that i'd lie, just curious

soulfoodbabyboy

I used to work in a mortgage department for what was considered a 'stringent lender'

My experience is that telling the truth regarding previous debts would look more favourably than a 'white lie'
Also, lenders are obliged to assess applications fairly and can not immediately dismiss an application once the default / bankruptcy term has been served (whether this is the case is another matter but it's certainly the line we towed and to be fair, I believe applications were assessed on the merits of the last 6 years with the more recent I information being the most important)

GingerBob_3

Thrugelmir wrote: »

Depends on each the lenders policy.

That'll result in a record with NationalHunters. The consequences of which would be declines from the 95% of UK lenders who are members of the CML. .

National Hunter data is held for a maximum of six years. However, they don't answer the question as to whether it's held longer than six years in the event of suspected or proven fraud.

JKSandy

dchuraman wrote: »

Sorry, what will result in that record? Lying or telling them you have the defaults? Not that i'd lie, just curious

You could send them a SAR to see what they have on you, they store information you have put on an application from 6 months to 6 years.

I don't see it as lying if you put no to "Have you ever had a default" as the law states a default can only be recorded for 6 years, therefore I am of the view, if they default has now dropped off, this question can legally only comply with the 6 year rule.