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Joshua
Joshua, Lawyer
Category: Property Law
Satisfied Customers: 25470
Experience:  LL.B (Hons), Higher Prof. Dip. Law & Practice
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i was convicted of theft 8 years ago & subject of consfication

Resolved Question:

i was convicted of theft 8 years ago & subject of consfication under proceeds of crime, i have since managed to save up deposit & wish to apply for a mortgage can i now get a mortgage
Submitted: 3 years ago.
Category: Property Law
Expert:  Joshua replied 3 years ago.

Joshua :

Hello and thank you for your question. I will be very pleased to assist you. I'm a practicing lawyer in England with over 10 years experience.

Joshua :

May I ask what punishment was given please besides the confiscatio order if you recall?

Customer:

2 years in prison

Joshua :

Thank you. A prison sentence of less than 2.5 years is spent under the Rehabilitation of Offenders Act after 10 years. After 10 years the offence no longer needs to be declared. Until 10 years has passed if you are asked if you have any unspent convictions it is an offence to answer in the negative.

Joshua :

After 10 years you need not legally disclose your conviction to a lender if asked. If you apply for a mortgage before 10 years, and the question is asked you would need to answer honestly or you could be guilty of obtaining monies by fraud which is obviously not a situation you want to place yourself in.

Joshua :

Accordingly it would seem that you may have just a little longer to be patient before applying for a mortgage from a mainstream lender in order to avoid having to disclose the conviction. Alternatively you could consider speaking to a mortgage broker now and asking if they are aware of any products available that do not ask about prior convictions. There may be mortgages available that charge a little higher interest but do not ask or alternatively accept individuals with prior convictions.

Joshua :

Is there anything above I can clarify for you?

Customer:

do all mainstream lenders ask the question

Joshua :

To my knowledge they do however I am aware of no mainstream products that do cater for individuals with previous offence - however the interest rates tend to be higher so they may not be attractive particularly as you have relatively little time left before yuo no longer need to disclose.

Joshua :

I would suggest contacting a local mortgage broker; they will have working knowledge of the currernt market place and give you some figures you can consider

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