Remortgages for bankrupt's

marklunn3602

Evening all

We have a joint mortgage which is due to come out of its discount period in June '09 and go up at least £100.
However my OH will by then be bankrupt. How badly will this effect our chances of a remortgage at a reasonable rate?

Mark

sammyjammy

I would imagine your chances of any remortgage are pretty much nil, its unlikely that your partner will be even discharged by then, you will be better off remaining on the SVR of your current lender.

Has it been arranged as part of the bankruptcy that you can remain in your house?

Sam

_Andy_

You'll need to approach tyour current lender to see what deals they have available.

opinions4u

If your other half is bankrupt, then the trustees will own half the equity in your house.

While the bankruptcy trustees have any interest no lender would consider a remortgage.

You need to establish exactly what the likely outcomes of this bankruptcy are. Not putting too fine a point on it, how are you going to repay the trustees without selling your home?