back in 1994, we handed our keys back due to redundancy and was subsequently repossessed. in 1997 we got a letter from abbey nationals solicitors(dibb, lipton and allsop) for £18,000 shortfall. we cleared an arrangement of £3,500 for the shortfall in 2000 and applied for the repo. notes to be removed from our credit history file . this done , we've just been accepted for a mortgage subject to final checks from abbey. Is there any reason for abbey not to give us a mortgage or will they still have our repo. on file and decline to a formal offer

-- chunky (cnc.andy@lineone.net), March 27, 2002

Answers

I really do hope that AN do give you a formal offer, but I do fear that once they check on the register that the Council Of Mortgage Lenders Members subscribe to, and your 1994 repossession comes up, they will decline you.

Look at it this way, AN have let you off £14500 - your cards will have been well and truly marked that this was so - and you have gone back to the same lender for a new mortgage!!!!!!!

If AN decline you, you are going to have to look at non-status mortgages such as offered by GMAC/RFC and pay a few points above normal interest lending rates. So its not the end of the world and if you do get declined by AN and want some further info to contact GMAC, email me privately and I will give you the info.

Good luck!

-- David J. Button (davidjohnbutton@supanet.com), March 30, 2002.

It is remotely possible that you will not be on the list. Some (not all) voluntary repo's seemed to miss it if they were before 1996. I wish you luck.

-- Too scared to say (iwasduped@yahoo.com), March 30, 2002.

If they should decline you a mortgage dont worry there are plenty of other high street banks and building societies who will take you on. Im on my second mortgage since repossession, no questions asked!

-- Daren Otsay (darenotsay@blueyonder.co.uk), March 31, 2002.

There are many lenders you can approach - personally I would make A.N."off" the list or a desperate last measure. I don't suppose for one minute that they've let you off any money that you REALLY owed them - possibly a 'false shortfall' amount and that's your lot.

Ignore the dire warnings of Job's Comforter - at least he hasn't advised you to go bankrupt, which is his norm. Good luck, Joy

-- Joy Harker (fightingback@harker.go-plus.net), March 31, 2002.

Hi Andy, further to your email it was A.N. (who i would not bother with)And HSBC. It was Nationwide who i originally had first mortgage with and was repossessed back in 1992.

-- Daren Otsay (darenotsay@blueyonder.co.uk), April 01, 2002.