Previous owners have warning of repossession : LUSENET : Repossession : One Thread

Our solicitors have found out that the owners of the house we are hopeing to buy has had either a warning of repossession or will be repossed. Should we pull out now as the house will have bad credit, or carry on with the solicitors as we dont want to lose the house or any money?

-- Andrea Guppy (, August 18, 2000


A house can't have 'bad credit'. E.

-- Eleanor Scott (, August 25, 2000.

Mmmmm, actually a house can have 'bad credit' in the sense that CIFAS warnings follow addresses as well as individuals.

So if you live in a house where a previous occupant is thought to have tried to make a fraudulent credit application, or where a previous occupant did any of the non-fraudulent things that sometimes trigger a CIFAS warning, then it is possible that a subsequent occupant will find their credit record "tainted" by that previous occupant's actions.

In that sense, the house might be said to have 'bad credit'.

People should also read the CIFAS information in this site and on the CIFAS site at for more details of CIFAS.


-- Lee (, August 25, 2000.

Unfortunately not all credit scoring companies agree that an address should not be loaded re: credit scoring.

I cannot emphasise the use of the internet for information. It's modern man's equivalent of the flint axe head in present day evolution. The information it can reveal is tremendous. Companies and individuals seem somehow compelled to disclose information to multitudes. It seems if we examine it, that even we, ourselves via this forum, are doing it as well! We - hopefully being wise (Or crafty) should derive some advantage from it. (Maybe someone will write a thesis on it someday). Anyway this is the information (relevant to the UK) that I have managed to sift from 1 million sites of possible interest in this matter. It took me 45 minutes. I hope that it helps.

They explain that it's only those with the the same surname that are are recorded and that it's just to help ensure that a family does not take on more commitments than itcan afford. They say that lenders' experience shows that the finances of individual members of a family sharing a home often do impact on each other.

Equifax site's FAQ's are not hidden but they are are not "primary" an up front it's mainly confined to advertising their credit search services (They're known for not committing themselves or for helping debtors) ratings1.html

-- Lamps (, August 25, 2000.

Moderation questions? read the FAQ