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When applying for a mortgage do I have to declare that I was once bankrupt?
nathanwyer
Posts: 4 Newbie
My partner and I are currently looking to buy our first property and are looking for a mortgage. I declared myself bankrupt 9 years ago and one bank have already declined us for a mortgage as I told them about my bankruptcy when they asked then question "have you ever been bankrupt".
So my question is, do I HAVE to be as honest as I was? Can I lie? I don't like to lie, but if it gets me a mortgage I will. As it was so long ago, can they find out that I ever was bankrupt?
Many Thanks
Nathan Wyer
So my question is, do I HAVE to be as honest as I was? Can I lie? I don't like to lie, but if it gets me a mortgage I will. As it was so long ago, can they find out that I ever was bankrupt?
Many Thanks
Nathan Wyer
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Comments
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I am a mortgage broker. You should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice. Please do not send PMs asking for one-to-one-advice, or representation.0
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Bankruptcy records are held outside of those reported in CRAs and regularly checked by solicitors during the conveyance.
Late discovery is likely to lead to loss of expenditure to date (as case is rejected) and 'pride of place' on National Hunter.
There are a number of lenders who will accept the bankruptcy if your record since is good - I would recommend using a broker to match you up to an appropriate lender rather than the random process you appear to be applying.Hi, we’ve had to remove your signature. If you’re not sure why please read the forum rules or email the forum team if you’re still unsure - MSE ForumTeam0 -
Trouble is Nathan, its more than just a lie. It si a criminal offence for which people can be and indeed are prosecuted.Now the chance of that happening may be small, but I'm guessing thats what all of those who have been prosecuted thought!
Dont do it mate. Follow up the alternatives. Get thee to a broker!£1000 Emergency fund No90 £1000/1000
LBM 28/1/15 total debt - [STRIKE]£23,410[/STRIKE] 24/3/16 total debt - £7,298
!0
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