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Response to NEW MORTGAGE AFTER BEING REPOSESSED

from Kaveh Damestani (kdamestani@staveley.co.uk)
I have had a chat with a mortage specialist regarding getting a new mortgage after a repossession.

He told me that on average, only 1 in 10 repossessions are every actually logged by the lender onto the repossession register and then when you apply for a new mortgage, only 1 in 10 of the lenders will check against the register.

This vasty improves the chances of getting another mortgage. I suggest you obtain your credit file from Experian and Equifax. If there is no sign of the repossession on them then you are relatively safe. Most lenders assume that if the credit file looks ok then the customer is a safe bet.

My partner has been through a repo and we are having a major battle agianst the Halifax that is starting to turn out quite well. We haev the Ombudsman, Data Commissioner and Lord Chancellor involved and the Halifax are feeling a bit threatened now!

We have been told that the chances are that she will be able to get another mortgage quite easily despite her repossession.

Hope this helps!

Kaveh

(posted 7867 days ago)

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