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What are Platforms rules on repossession?

April 26, 2017platforms repossession rules

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What are Platforms rules on repossession?

1 Answer

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Applications where any type of repossession has been recorded during the last 6 years can only be accepted on a Non-Conforming product (unless the mortgage was Non-Conforming in which case the application will be declined). If registered over 3 years ago no further information is required apart from details on the application form. If registered 2-3 years ago Platform will require written confirmation from the lender/solicitors involved that there is no shortfall outstanding. If registered in the last 2 years the case will be declined.