When are you mortgageable again

padiman

Does anyone know, when you are mortgageable post Bankruptcy, I realise during the Bankruptcy 12 months that its out of the question, but how long after discharge.

And is there a sticky anywhere that lists or details companies that have accepted such people.

thanks

skylight

Its whenever really. There is no rule or law about it, it really is up to whomever wants to lend to you.

You need to ensure your credit file is as clean as can be though after AD - there is a sticky about that at the top of the board. And a financial adviser would be able to search thousands of mortgages and know where not to go to etc. However, in this current credit climate, with people who have never been BR getting stuffed I really don't think you have a great chance for a few years. But that will give you loads of time to save a huge deposit!

Fruit

Hi,

Mortgage lending varies from company to company. Previously Platform would allow you to mortgage the day after discharge. In the current climate this is no longer available and i have been unable to find a lender that will consider a period of less than 12 months from discharge, however there are a number of lenders that will look at this subject to you meeting there other criteria ie income etc.

Hope this helps

Fruit.

WildWayz

I went bankrupt in November 2003. I got a mortgage (7.14% - would have been 6.2% but wife's ex-husband didnt pay their mortgage for the last 2 months and didnt tell her!) on Feb 20th 2006 (we had been approved back in November 2005, but our mortgage advisor gave us the run-around and delayed the house sale/purchase).

I was discharged in April 2005.