Old defaults

Chesney25

Hi
Do I have to declare a 6+ year old default to lenders when applying for a mortgage? It no longer appears on my credit files.

Thanks

ACG

It depends what question is asked.
If it asks, in the last 6 years then no. If it asks if you have ever, then yes.

Chesney25

It kind of negates the whole 6 years until clean credit when you then still have to declare any past errors. If I don't declare it, how do they find out about it? They ask for details, not even sure where to find these now? Any opinions/advice on.how they'll view an old default not on my credit file?

Thanks

ACG

Who is the lender?

Chesney25

Looking at natwest

ACG

I am just looking at their application system (for brokers) and it asks:

Have you ever been insolvent, bankrupt or sequestrated?



Have you ever been involved in court proceedings in respect of debt or financial agreements with creditors

None of those are about defaults.

Are you getting different questions?

Chesney25

Yes, downloadable mortgage application form says

Have you ever been in arrears, defaulted on payments, or involved in
court proceedings connected with debts or financial agreements with
other lenders, including CCJs or voluntary arrangements?

Am I looking at wrong doc?

ACG

Im not sure, I just use the online application system for brokers when I apply for clients..

Call up natwest and ask them how they would expect the question to be answered - get their name and time/date you called written down. Halifax for example asks if you have ever been bankrupt, but if the bankruptcy is over 6 years old then they would be fine with you answering the question as no. Little quirks with lenders systems and processes.

Chesney25

I'm using a broker so hopefully he has the same question as you! Thanks for your help

ACG

Your broker is asking you to fill out the application form? My clients are clearly being spoilt! :P

Chesney25

Lol, no, he's not. I'm just researching possible issues and came across it.