Planning a future mortgage after DRO

jcm13uk

Hello, I'm using my friends account as I'm not very good with computers or typing.


I was also wanting some general financial advise with regards to Halifax and mortgages.

Approximately 10 years ago, when I lost my job, I defaulted on my Halifax credit card and was given a Debt Relief Order which I voluntarily applied for myself, which made the debts unenforceable.

With this being like 10 years ago, both the debts and the debt relief order itself are no longer on my credit file.

I now have a bank account with Halifax again (basic account) and wish to remain with Halifax as me and my family have been with them for decades.

Do they keep internal records of how I defaulted 10 years ago on my Halifax credit card, and would this have an adverse effect or even bar me from ever being approved for a mortgage or any type of borrowing from them in the future?

I also had debts with Barclays and HSBC which were covered by the Debt relief order.

Any advice or stories from people in a similar boat would be appreciated.

Julia

Thrugelmir

jcm13uk wrote: »

Do they keep internal records of how I defaulted 10 years ago on my Halifax credit card, and would this have an adverse effect or even bar me from ever being approved for a mortgage or any type of borrowing from them in the future?

With regards to a mortgage highly possible. Don't restrict your options though. Look at the whole market and find the product that suits you best.

csgohan4

I agree with Thrugelmir, does loyalty pay? don't limit yourself to Halifax or you might as well be a charity for them to give free money to

jcm13uk

Barclays have told me they only keep records for 6 years - no longer (also applies to Barclaycard).

Lloyds and Halifax 10 years.

NatWest - 2 weeks


I should maybe stick to Barclays and build my relationship with them then

Westminster

I'm inclined to believe Barclays regarding their data retention limit.

Back in 2007-8 I defaulted on (amongst lots of other things) a 3k Barclays overdraft and a couple of credit cards which ended up being owned by Barclaycard (e.g. Egg) which I partially settled on several years later.

Despite all of that, within 6 months of those defaults reaching their 6 year anniversary and dropping off the CRA files, Barclays / Woolwich approved my 5x income mortgage.

This mortgage was applied for around 12 months or so after partially settled but it looks like the Barclays systems had deleted the accounts on the 6 year default anniversary just like the CRAs do.

jcm13uk

Well done I think Barclays are a good bank really and unlike the others - don't judge you too harshly for mistakes in the distant past

Thrugelmir

jcm13uk wrote: »

Barclays have told me they only keep records for 6 years - no longer (also applies to Barclaycard).

Data has to be deleted after 6 years. What can be kept in simple terms is a "blacklist" (as we used to call them). Just basic information sufficient to identify any future applications and issue an automatic decline. Some customers simply weren't worth the trouble of dealing with.

jcm13uk

That's interesting because on facebook - Halifax and Lloyds both emailed me stating they hold account information for 10 years across all their group brands, not just 6 years.

Thrugelmir

jcm13uk wrote: »

That's interesting because on facebook - Halifax and Lloyds both emailed me stating they hold account information for 10 years across all their group brands, not just 6 years.

Send them a SAR and ask them what "information" they hold on you. Account information is a broad generalisation.