Mortgage after repossession?

Cantthinkofone

Hi all, hope some of you may be able to advise on the likelihood of being successful with this.

In late 1998 my home was repossessed after divorce. Basically I just handed the keys back and didn't fight it as I had no fight left in me. I also had a couple of unsecured loans.

In March 1999 I received a letter from the bank saying I had a shortfall of about 15k. The solicitor I was using for my divorce wrote to them on my behalf ( and also regarding the unsecured loans) saying I was a single parent family and would they be willing to accept a token gesture until such time as my finances were resolved. I haven't heard anything from them since then and although I didn't chase them up I have been living the same area, claiming benefits and now working for the past 11 years although I haven't been on the electoral roll.

Is it likely that the debts were written off? How likely is it that I can still be chased for them or will they have become statute barred? Will I have to declare the repossession to any new lender?

The reason for asking is that I have now remarried and we would like to buy the Housing Association house we have been living in for the past 10 years. We have a loan which expires in March 2016 and have a deposit of about 5k already saved which can rise to about 15k if we wait until Mar '16 but I wanted to get advice before we 'build our hopes up'. My salary is approx £50k and my wife's is aprrox £9k.

Thanks in advance

PHYTHIAN

Well can you certainly forget about the loans...15 years is way outside

the 6 the courts would allow for any CCJ to get reinstated( you don't

mention CCJs but would've thought you'd have got some).

As for the mortgage, I think that's 12 years although I remember

reading that some banks have agreed that 6 years is the cut-off now.