Nationwide AIP Bankruptcy concern

b1gdeano

Evening all,

My partner and I have just applied for a couple of AIP with Nationwide and Halifax and have been accepted for both.

I understand that the Halifax is a soft search and the Nationwide a hard one. We chose these lenders as we both have savings with them so they have our ID etc and that they are both lenient with ex Bankrupts in their criteria

My partner was BR & discharged in 2009 so has been discharged for 7 years.

While during the AIP process with Halifax it never asked about BR history (assume they do that at full app) Nationwide did but in a way that we felt we were answering honestly by saying no, but now I am being paranoid and thinking maybe we should have said yes?!

The Halifax criteria stipulates that any BR discharge over 6 years can be answered as a no to the question about BR but the Nationwide has no real guidance in their criteria other than over 3 years can be accepted.

The exact question was

"Have you been declared bankrupt or entered into a voluntary arrangement with a creditor?" - The other questions had EVER in the question such as this "Have you ever had a property repossessed?"

While doing it for the AIP we took it to mean are you CURRENTLY in an IVA or BR, especially as the others said EVER

In my paranoia I did another fake dummy app just to get to the same declaration in case there was an "ever" but there isnt - if you click yes it just puts a box asking for "Details of bankruptcy or arrangement with creditors" (Cut and past exactly) so again I feel it want details about current issues?

Really quite stressed out now as dont know if we are ok to proceed to apply for mortgage with the AIP we have? Concerned that if we proceed with Nationwide without telling them about it we would be caught at search, as it does appear in the london gazette but it would have fallen from the land registry by now?

The one from Halifax hasnt asked so far but the fact they state we can answer no in their guidelines makes me feel we have no worries if we proceed with them instead?

Anybody have any views on what to do here?

Thanks

ACG

You should answer the questions as they are asked.
It does not ask are you currently bankrupt, it asks if you have been - it does not stipulate any timeframe. So to me, I would have answered the question as yes.

b1gdeano

Thats what I woke up thinking this morning and have been worried about all day - if we wanted to apply with nationwide should be get another AIP online or use this one but tell them in branch when applying for the actual product about the BR?

In all honesty I feel we should go with Halifax, as not declared anything as of yet but can freely answer the question as NO according to their terms?

Good to know we passed a hard check though

ACG

Call nationwide and let them know. See what happens, it will probably refer.

b1gdeano

I think that is what we will do, if we choose to proceed with them

I am still leaning to the Halifax AIP, as feel may have a better chance with their terms stating the NO answer to the BR question if it is over 6 years....

Jon_B_2

Really should have gone to a broker in this instance...

starM

I might be wrong but my understanding is if you say yes for BY then likely your application would have declined immediately without any search being carried out.

You would have failed the initial checks.