repossession

please help i have got the oppurtunity to buy my council property,but had a proprty repossessed in the price crash of the eighties,we are still paying a monthly payment towards the shortfall.will applying for a mortgage mean i will be liable for the full amount.should i try to lieabout having an outstanding debt.my gredit rating has returned over the last year i can now get loans and cards. any advice would be appreciated

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