Yes, it is perfectly possible to get a mortgage while fighting a repossession claim.(posted 7998 days ago)I've been offered two mortgages by people who knew I was fighting Bradford & Bingley's shortfall claim. One offer was from a specialist lender, the other was from a high street bank.
The specialist lender wanted me to pay 1.5% extra interest for 18 months - until I proved that I could keep to a repayment schedule. I presume that the high street bank would have imposed a similar "premium" for 18 months or so until I proved that I was reliable.
So, it's easy - if slightly more expensive - to get another mortgage while fighting a shortfall claim. Whether you are on the CML repossessee list is irrelevant.
However, should you? In my opinion, no. Two reasons: your mortgage application form goes into a database of credit applicants run by MCL Software that we think any lender can look at. So you could expose useful info about your earnings to the lender that is chasing you.
Second reason: anyone who buys property at today's levels is a mug. Wait for a pull-back.
Lee
The other reason is that anyone who buys property at today's levels is a mug. Save your cash and wait for a pull-back.
Lee