Mortgage after bad credit

[DBY]

Hi all, ive managed to get an excellent credit rating after years of hell, debt ccjs, which have all now disappeared off my credit file (3 years ago). Myself and my partner are wanting to purchase a property and have recently been approved for a mortgage via a mortgage broker. However Im worried now that when we complete the application form this Friday i will be asked about historical credit problems.

Do I have to declare these, including the voluntary repossession of my house in 2005? What would happen if I did? What would happen if I didn't?

 

 

Thanks

[citizenB]

I would think that if you are asked then honesty is likely to be the best policy. It would appear you have a decent credit history and all negative data is off your credit files for some while.

 

I will ask others on the site team if they know if you are likely to be asked awkward questions

[DBY]

I would think that if you are asked then honesty is likely to be the best policy. It would appear you have a decent credit history and all negative data is off your credit files for some while.

 

I will ask others on the site team if they know if you are likely to be asked awkward questions

 

Thanks for taking the time to respond. The reason I ask is that during my preliminary meeting with the broker he did ask if I had been repossessed or had any CCJs. I responded that I had had a ccj a long time ago, he asked if it was longer than 6 years to which I said yes, he replied saying that was fine. I didn't state that I had been repossessed as technically I hadn't been, and whilst browsing the net this afternoon I looked at a virgin mortgage application form which was asking those types of questions (although I'm applying for a Santander mortgage).

Just anxious

[Ell-enn]

If you've already been approved for the mortgage, the forms will just need signing - the mortgage company will already have all the information they need to make the decision to offer the mortgage (that's how I remember it)

[DBY]

oh ok. Thanks. So to be clear how do the mortgage company vet you? Via credit checks presumably? Does an approval mean that an underwriter has already looked at you based on the info the broker supplied?

[DBY]

also we have to go to the broker tomorrow to complete the application forms and provide all relevant docs.

[Lea_HTH]

Voluntary repossession is still a repossession. You were asked, you need to declare it, otherwise, if it comes to light that you were asked and omitted a response (which the broker will have taken as a 'no' and undoubtedly put that on the paperwork which you will sign and declare as the truth for your application for the monies), you will have obtained your mortgage by fraud, which is a crime. Is it really worth it? Tell the broker that a former property was repossessed - it might have an effect, but better that than risk an issue in the future.

[DBY]

fair enough how could they find out and how could it come to light?