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from pendle (pendle_666@yahoo.co.uk)
On a mortgage application form, it will ask you if you have ever had a property respossessed, there might or might not be a time limit on it (eg have you had a property repo'd in the last 6 years).

As you are making an application for credit, I wouldn't advise that you lie on the form, because if you were found out it would go against you and may be considered a fraudulent application. There have been people who've not said that they've been repo'd before and managed to get a mortgage regardless, but personally I wouldn't take the risk.

If you couldn't keep up the mortgage payments previously because you were made redundant or something like that, then the lender may well be sympathetic and be willing to grant you a mortgage. In some cases there may well be a slightly higher interest rate until such time as the lender is sure about you.

The only way you're going to find out is by applying, but when you do find a lender, do make an appointment and have a chat about your application and discuss what happened in the past, if you're up front and honest with the lender, then your chances are better.

(posted 8185 days ago)

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