My bottom line question is, how would a mortgage lender know that you had a previous repossession?
A few years ago we had a very troublesome tenant who knew every loophole In the law and how to get away without paying rent for over a year, appealing all evictions first because she was pregnant, then because her children were to young and she couldn't be made home less etc. etc. during this time we had no rental income, the property was losing equity due to the house price crash and we were spending a lot of money in legal fees for letters and going to court etc. after a lot of stress and heartache we decided it was easier to let the property go and let the lender evict her which he did after about 6 more months. We have now nearly paid all our debts, we are going to offer F&F to two creditors and our credit will be restored completely. The repossession does not show on the credit report and somebody told me that a register used to exist where details of repossessions were kept by credit agencies, however this register was stopped and all documents destroyed in 2010. So going back to the question how would a lender find out that your previous property was repossessed? Should I risk trying to get a mortgage? Thanks
A few years ago we had a very troublesome tenant who knew every loophole In the law and how to get away without paying rent for over a year, appealing all evictions first because she was pregnant, then because her children were to young and she couldn't be made home less etc. etc. during this time we had no rental income, the property was losing equity due to the house price crash and we were spending a lot of money in legal fees for letters and going to court etc. after a lot of stress and heartache we decided it was easier to let the property go and let the lender evict her which he did after about 6 more months. We have now nearly paid all our debts, we are going to offer F&F to two creditors and our credit will be restored completely. The repossession does not show on the credit report and somebody told me that a register used to exist where details of repossessions were kept by credit agencies, however this register was stopped and all documents destroyed in 2010. So going back to the question how would a lender find out that your previous property was repossessed? Should I risk trying to get a mortgage? Thanks
