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

-- (jayb64@hotmail.com), January 13, 2005

Answers

It is very unlikely now that there will be any link on credit records on on the CML register (which did not exist in the 80's as I recall).

Go for it, but do a credit search on yourself before you commit, just to make sure.

-- David J. Button (davidjohnbutton@supanet.com), January 13, 2005.

Just a thought..., you could use the opportunity to borrow a bit more than you need assuming you are getting a good discount..and try and negotiate a full and final settlement with the creditor you are paying out to monthly. You might find that they will settle for half of what your balance is. But don;t let on that you are buying your council house.

-- Moira (Anderston828@aol.com), January 15, 2005.