In 1994 we got into some difficulty with our mortgage with RBS in Scotland. To try to remedy the situation I took a job overseas and we rented out the property. However, the bank took possession. I have no idea what exactly happened as the shock, shame and humiliation of the episode coupled with the fact we were quite young at the time and we were overseas meant that we just let it happen.(posted 6982 days ago)Fast forward to 1997. We returned to the UK and I have a job with a large company in the midlands. Initially we were worried that our past would catch up with us. However, we have a normal financial relationship with various financial services companies. We have loans, credit cards and I’m a premier banking client of a major high street bank. The only thing we don’t have is a house of our own. We pay almost 3000 pounds per month to rent and have done so since 1997. A couple of weeks ago we decided to apply for a mortgage. We went through the process and have an agreement in principle. The lender has credit checked me. I checked the next day. There is no adverse credit info on either my Experian or Equifax files. I have been checking them regularly since 1998. Having now found a house we want to buy I need to decide whether or not to disclose our repossession. Obviously I should do this, but I’m scared our world will come crashing down around us. I have some questions, any answers are very welcome.
1. Will my NI number and tax reference number be used as a means of checking out our past? 2. If I disclose our repossession, what will happen. 3. Are there any other sources of information beyond the 2 main credit reference agencies that the lender will check?
Thanks Alex.