should i be worried?

shouldibeconcerened

15 years ago when i was young and stupid i was made bankrupt. handed in the keys to my flat and so on... I vowed never to to anything so daft again.
Since then i have had no credit issuse and had a mortgage, credit cards etc.

I have just sold my house and am looking for a new mortgage a deal has come up with the company i defaulted on. Do you think this information will still be helld by the company after this amount of time?
Obviously there is nothing untoward on my credit reports for the last 6 years.

thanks

Dave_the_Ginger_Cat

It depends who it is - many will have changed systems in that time but some won't.

If you name your lender, someone here will most likely have a good idea

shouldibeconcerened

TSB Bank in scotland

shouldibeconcerened

any fonts of knowledge out there??

Mortgage_Mark_2

I suspect with the changing of hands twice with the Lloyds merger in that time (or certainly at least once) that you'll be ok, but I'd get a DIP with them to be sure.

shouldibeconcerened

Sorry I should have said i have had a DIP with TSB for £200k. our offer was accepted on house at 190k with a mortgage amount 171k.
Just concerned about the full application.
thanks

Mortgage_Mark_2

Generally speaking the DIP is fairly indicative of any serious issues that would come up on a full application.

shouldibeconcerened

thanks Mark. i didn't want to just apply and be rejected. TBH i have not really thought of my youthfull stupidity in years.. Will make the application tomorrow..

Mortgage_Mark_2

Happy to help. There are occasions when a more detailed credit search throws up a few extra surprises but you'd think that anything as major as the situation you encountered some years ago would be picked up at the initial stage, which is more 'high level' and looking to pick up those bigger kind of problems.


Good luck with it, I'd be interested to know how TSB are now, I've not dealt with them in a long time.

kingstreet

If asked if you have ever been made bankrupt, always answer honestly.

Your solicitor carries out a check usually close to exchange of contracts which will reveal the historic bankruptcy. It's better if the lender knows about it in advance, than finding out late on when it may withdraw your offer on grounds of non-disclosure.

TBH Halifax tells us to answer no to the question if discharge is more than six years ago and if this holds for all the current members of LBG you may be able to follow the same path as Halifax.

However, as TSB does not yet accept business from intermediaries, we can't say if it has the same policy as the other LBG members so I'd ask the lender and your solicitor for guidance at the time you apply.

shouldibeconcerened

Thanks for your replies.
My previous mortgage was with HBOS so part of the same group at that time.
I did ask my solicitor about this earlier this week and he also advised to say no as the bankruptcy was 10+years ago.

I suppose i will have to wait and see. I will keep you posted.