Best Available

boggie40

i have a meeting with mortgage advisor this week. bearing in mind that i was only discharged from a bankruptcy on the 02/10/08 with a deposit of approx £38,500 and a reserve pot to pay for any charges.
what is the best available mortgage i can expect.

i am 41 years old and i have a guaranteed lump sum of £62,000 on retirement, if there are any other mitigating personal details needed to make an assesment i'll happily oblige.

going into this a bit blind as i have no idea if interest only, tracker or repayment is best for my wife and i.....

dimbo61

I doubt if anyone could give you accurate info on the best mortgage available as we have very little information on your personnel finances.
Income of youself and wife, job and if you have job security.
Kids ?
Type of property you are looking at and price £38,500 deposit ( 25% ! )
Ages and credit score
Best to see whole of market mortgage broker and see what he/she can find.
Repayment mortgage if you ever want to actually own your home .
The lump sum at retirement should not come into your mortgage considerations ( you need that to live on in old age )
Well done on getting through your bankruptcy

Toughluck

MBS lending do bankruptcy discharged up to 75% LTV. Only do 3.25 x income and rate is 8.35% 2 year fix.

boggie40

i'll try and remember questions raised
i am 41 and wife is 37. she has a glowing credit reference whilst i am a discharged bankrupt.
the house we are looking at is £159,950. i work for the government so my job is as safe as one can be - i hope...
we have a combined income of £45,000

dimbo61

So with £40k which you are very close too you will have a 25% deposit and as I said a good broker should find you a deal that meets your needs.
With the present mortgage market nothing is guarenteed so go find a good broker and GOOD LUCK