morgage

[hubby0367]

will i ever be able to get a morgage in the future if my home is repossesed

[Buenchico]

"Time is a great healer" seems to be a phrase which applies to financial institutions as much as it does to personal relationships.

Unless you're suddenly offered the chairmanship of ICI, with a massive salary, it's unlikely that any major lender would give you a mortgage for several years. However, it's not a 'lifetime ban'. My friend's brother had to cope with the double financial burden of having his home repossessed and becoming bankrupt but he's now got a mortgage.

Chris

[Lindylou]

Six years. Tnat's the time it takes before your credit file is cleared. Keep it clean for that about of time and you should, then, be able to start afresh. Mind you, you won't be able to get credit for at least that amount of time. Keep clear of the electoral roll for a few years. A good way is to re-start is with catalogues. (After you go back onto the electoral roll) You must be employed, with payslips. Small amounts, pay on time (over minimum payment if poss). After several months, your credit will be restored.