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Do I have to admit to voluntary repossession?
richiebradford
Posts: 40 Forumite
Hi there,
About 10 years ago I handed back the keys to a propery I owned and I am now thinking about applying for another mortgage.
I have checked my credit report, and there is no mention of the repossession or anything else negative. So, when applying for a mortgage to I have to admit to the repossession? And if so, what effect will it have.
Thanks.
About 10 years ago I handed back the keys to a propery I owned and I am now thinking about applying for another mortgage.
I have checked my credit report, and there is no mention of the repossession or anything else negative. So, when applying for a mortgage to I have to admit to the repossession? And if so, what effect will it have.
Thanks.
Questions are a burden for others; answers a prison for oneself.
0
Comments
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If the question is asked that requires you to answer yes, then you should do so. Otherwise you are guilty of fraud. Whether the question is asked in such a way that goes back 10 years is a different matter.
If its asked, have you ever been....? then you should say so. If its asked, have you, in the last 6 years been....? then it doesnt apply.
Reposession is still repossession regardless of whether it was voluntary or enforced.
A good mortgage broker would help you get a lender that doesnt look back 10 years and ask questions that would cover that period.I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.0
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