Declaring past loans query

RetroFit

I took out a career development loan in 2002. For an unforeseen reason, I ended up unemployed and trying to pay it back. The bank killed the interest rate so I was only paying off the loan itself and not the interest.

When I gained full employment, I phoned the bank and asked to pay everything off swiftly. They accommodated me, I paid everything off within six months. That was 2011.

I'm looking for a mortgage at the moment. Banks doing a credit search on me don't find any problems. I've looked at free reports (Experian and Noddle), and there's no sign I've ever had defaults on anything, and my credit rating is good.

When mortgage advisors ask about past bankruptcy/insolvency/default problems, I don't know what to say. I haven't pursued a mortgage seriously yet because of this dilemma. Is this CDL history something I should declare?

[Deleted User]

Would be worth checking Equifax as well.

But to answer your question, you need to answer honestly what they ask you - so the exact wording of the question is key.

RetroFit

I can't check Equifax. I can't set up an account online, and when I telephone, they want me to send my bill payments, passport and address to them to verify my identity, which I'm not at all comfortable doing.

I certainly don't want to lie, which is why I've held back from chasing a mortgage seriously. I suppose my main concern is what kind of impact this will have on my ability to get a mortgage. I've been thinking of going to visit an independent financial advisor to ask for advice, but people around me keep saying that's overkill... I'm not sure it is overkill if my decision affects how financial institutions will see me in the future.

Gaz83

It's not overkill. But go to see a mortgage adviser rather than an IFA.