Discharched Bankrupty, Buy to Let, should i be honest

marksgonnatri

Was Bankrupt is Dec 2006, and have been squeaky clean since then,
I am looking at buying my first BTL and I know one of the questions is have you ever been bankrupt,
Should I be honest, how will it affect my chances even if it was 9 years ago,

dunstonh

Discharched Bankrupty, Buy to Let, should i be honest

Are you asking us whether you should commit fraud or not?

Should I be honest, how will it affect my chances even if it was 9 years ago,

And when the lender checks the bankruptcy register and finds you on there, do you think it will help your chances more?

marksgonnatri

Thanks. Hadn't considered it like that,
Does the Bankruptcy register live forever then, i thought it was only for 7 years on your credit file

Yorkie1

I don't know about the specific question about a register, but if you are found out then a marker will be put against your name on the National Hunter Fraud database. This will mean that you may find it impossible to get any form of insurance or other credit, let alone a mortgage, in the future.

Is it really worth the risk?

chanz4

the question was have you ever, not have you in the last 6 years

g6jns_2

marksgonnatri wrote: »

Was Bankrupt is Dec 2006, and have been squeaky clean since then,
I am looking at buying my first BTL and I know one of the questions is have you ever been bankrupt,
Should I be honest, how will it affect my chances even if it was 9 years ago,

Yes you do. Not to do so is a criminal offence.

kingstreet

The solicitor acting for the lender carries out a bankruptcy search close to exchange of contracts which has nothing to do with your credit file.

Yours will be revealed and the solicitor must report it to the lender.

You can guess what happens next...