Repossesion

Mrp791

I had a home repossessed in the recesssion of 2009 . I have now £190000 to put down on a home . I have no defaults or ccjs standard credit history will I still struggle to find a mortgage? Looking at borrowing £110000

Thinkandgrow1

No you won’t. Stacks of lenders will lend to you. Speak to a good broker. Fair play to you aswell 

ACG

If you had any bad credit around the same time, lenders may keep records going back further than the 6 years on your credit report. It is probably a good idea to avoid those lenders, but in the main I think you will be fine. 

Mrp791

What do you mean those lenders sorry?

cymruchris

Mrp791 said:

What do you mean those lenders sorry?

If when you lost your home you were with say the Nationwide - then avoid the Nationwide this time around - as their records would likely go beyond the 6 year rule that CRA's report for.

Any bank or building society that at that time you owed money to, and either didn't pay, or struggled with for a while - try and pick someone else you didn't have dealings with.

The chances are it would be fine no matter who you went for - but you might as well take precautions to give you the best chance of success. On that deposit with that mortgage value though (depending on salary) I don't think you'll have too much trouble.

ACG

As above really. 
Although the repossesion is probably the worst of it, I assume there would have also been other problems as well. If you had bad credit elsewhere, you may need to avoid anyone you had defaults/mised payments with as their records can go back further than the 6 years.