Will we be able to get a mortgage?

BigSteveLondon

@Gwenllian111 - congrats on the windfall!
Don't mind these haters in your thread, jealousy is a !!!!! isn't it.

Personally I'd find out whether your capital effects your right to stay in the council house. You are allowed a maximum in the bank for benefits I think.
I'd do my calculations before even thinking about buying, because once you leave that CH it will be years before you could get another one if needed.

If your capital is not too much, and they stop your benefits, but you have to pay full rent on the CH, it will still be more than a 60% saving on a mortgage. So you could do that for a year and see how you manage the money, your lives, enjoy some holidays, etc.

You've been given the chance for a reason, don't blow it LOL.
Of course your welcome to deposit some cash in my account for the advice advice ;-)

confused31_2

pandamonia wrote: »

why not pay back the money that people lost when you went bankrupt.

yes neas;);););)

its just jealousy.

confused31_2

bitterSTAR wrote: »

Just by checking out the woolwich website a salary of 16k would be enough for a 80k mortgage with monthly payments of £210.29 - £332.85 over a 25 year period or £447.93 - £552.14 over a 10 year period - as long as the whole 100k is used a a deposit.

i think them figures are a little low, unless they are going interest only.

mbga9pgf

I agree with some of the 'jealous' posters on here; we, as taxpayers are picking up the bill from your profligacy; which we will all have to pick up down the line through tax increases for bank bailouts, money that could go on other key public services.

I would be careful; Bankrupcy in the UK does not absolve you of your debt in your situation either.... you may find yourself liable to pay back the debt....

http://www.talkaboutdebt.co.uk/question-answer/bankruptcy/inheritance-and-bankruptcy

poppysarah

silvercar wrote: »

Just that it was fortuitous.

I think you are being overly sensitive. Where have I posted anything derogatory?

If you have a windfall during your bankruptcy thing - can they ask you to pay more? Or is it set at the start and that's it?

slummymummyof3

I think some people are sounding particularly spiteful with their remarks and should really keep such remarks to themselves. The OP was asking a reasonable question and as such should expect reasonable, polite answers or from those not capable of doing that - perhaps you should not reply.

silvercar

poppysarah wrote: »

If you have a windfall during your bankruptcy thing - can they ask you to pay more? Or is it set at the start and that's it?

Once you are discharged its all over. If you get a windfall between going bankrupt and being discharged, you have to declare it. Once discharged the slate is wiped clean (but not your credit record obviously) and you keep any windfalls.

Discharge is virtually automatic after one year; if the case is straight forward you can often get an early discharge within months of going bankrupt, as appears to be the case here.

If in investigating your affairs, the Official Receiver is suspicious of anything they can investigate and impose a BRU, which delays discharge. If the bankrupt's income means they have funds that could be contributing to debts, they would get a BRO whereby they have to pay monthly amounts to creditors for a few years.

BigSteveLondon

mbga9pgf wrote: »

I agree with some of the 'jealous' posters on here; we, as taxpayers are picking up the bill from your profligacy; which we will all have to pick up down the line through tax increases for bank bailouts, money that could go on other key public services.

:rotfl:C'mon now that's a load of rubbish. Leave her alone for heavens sake. You have no idea of the circumstances, so to judge her is wrong. You should be ashamed of yourself. Your sounding very 'Daily Mail' right now if I may say so

God forbid you yourself need the system at some point because something happens in your own life. Hopefully those around you won't be so judgmental.

kevandkeira

How long have you been in your council house, could you not approach them to buy it.

leveller2911

Gwenllian111 wrote: »

Deposit of £100,000. Looking to get a mortgage of around £180 000.

Thanks

In my humble opinion you will struggle.You have a deposit of around 35%, but although your discharged , you will still be seen as a big risk.A mortgage of £180k is still a big mortgage. What are your incomes?.

Why not be happy with the security you have, be happy and live a life.You've come into some money , been lucky etc.Just remember you DON'T own the house you want to buy until you make that final payment.

Just for interest and it isnt really my business, how did you get discharged after 6 months?. just curious:D