Mortgage After Reposession

mrmcmc

Hi, I was on a joint mortgage with an ex partner and we split on good terms so I trusted him and left myself on the mortgage. I found out last year he had the property repossessed. I was contacted by the mortgage company and paid a share of the shortfall within a week.

I currently have had my own mortgage on another property for the last 2.5 years and have never missed a payment and have never missed a payment on anything else. I checked my experian credit score a few months ago and it was rated excellent and there was no mention of the repossession.

I am now looking to get a new mortgage as I want to move house. Does anyone know if I will be able to get one? If not I am open to getting a mortgage with my current partner who has a good credit score, would my exes property stop us from getting a place together?

Any Advice from experts appreciated.

Thrugelmir

You were jointly and severally liable for the debt on the old property. Walking away and washing ones hands unfortunately is not an option to be recommended. As you've now found out. The repossession will be maintained on a register. In addition you may well be asked the question as part of the application process. So you'll need to answer truthfully. Suggest you run this through a broker.

ACG

It is going to affect any application you make. Appreciate its not black and white but in the eyes of the lender it probably is.

Adding on your partner is not going to overcome the fact that you have had a property repossessed (and quite recently). If you have a healthy deposit it might open up some lenders to you but you may find this harder than I think you think it will be.