My daughter was repossessed some years ago and they chased her for it a few years later. We got a successful result which was well documented on this site. She has had a high interest mortgage with RFC for the last 4 years and would like to change to a High St lender. She has kept up her mortgage payments with no problems for all of that time. As it stands at present she will need to remortgage for about 45% of the value of the house.

She has problems qualifying however because of her circumstances. 1. She is divorced but receives maintenance from her ex. 2. She receives Family Tax credit. 3. Because of her 2 children, she only works part time.

Are any of the High St lenders likely to give her a mortgage if she presents them with these facts or has she got to tell them 'fibs' to get the money?

-- Rob Sowerby (robsowerby@ntlworld.com), February 11, 2004

Answers

I had my home repossessed in 1997 and have recently agreed a F & F settlement with my lender (on my terms).

Today my husband and I visited the ******* to find out what our position was re getting another mortgage with a view to buying our council house. We were totally honest with the Advisor re the Repossession and I think having the letter of satisfaction from the lender did help. Anyway the good news is that we were made an offer of a mortgage with no strings attached.

This is one of the BIG lenders, not a sub prime or anything and our income at present consists of Incapacity Benefit and a modest salary from my husband.

The Advisor did mention because the repo was more than 6 years ago they would not be particularly bothered.

What I would advise your daughter to do is to go to a mainstream lender and be totally honest,,,and hopefully it will pay off. At least she'll know exactly how she stands and she has nothing to lose after all.

I really wish her all the best!

Moira

because it was

-- Moira (Anderston828@aol.com), February 12, 2004.