Mortgage after bankruptcy

angels01

Just wondering if you are able to obtain a mortgage after ending a 3 year Bankrupty period?

To cut a long story short, I split with an ex years ago and was left with all the debt - he just walked away scott free so to speak. Only option open to me at the time was to declare myself B'krupt.

Since then I have met and married and we are looking to set up home together. So am wondering if there is anyone else that has gone through a b'kruptcy and managed to get a mortgage after it and how long do I have to wait as in .... is there a period of time that has to pass before applying?

Any help/feedback would be appreciated.
Thanks

angels01

Trying hard not to sound impatient... but is there no one able to advise?

castle96

you will always be asked (and a solicitor will take a check at completion), "have you ever been made bancrupt"
The longer ago the better, but I am sure it will still effect you, if only 3 years ago.
Consult broker for various schemes/options

Conrad

It's possible with a sub prime lender.
The exact details surrounding the bankcruptcy will need underwriting. I would expect rates to be 7.5% or higher which is a bit steep.

SickButtons

Hey,

I would also like to know more about this like Angels01. I will be discharged next year and would like to be able to buy a property.

I am in a fortunate position that my parents are willing to provide me with a 20k deposit and be guarantor for any mortgage. But i'm guessing even with the security of my parents it will still be a problem.

Who has got a mortgage after bankrupcy and who with?

Thanks... Hope we get some answers.

danielanthony

BR and any other default stays on your credit file for 6 years after it was first issued. I had an IVA (slightly less severe than BR) in May 2003 and have only just got a mortgage. You should check you credit file at all three CRA's and make sure all your default dates are correct (start of BR) and so they will drop off 6 years after that date along with the record of your BR.

If you cant wait that long then there might be a sub prime lender who will look at you but nothing mainstream.

angels01

Its great to see some responses to my original post and thank you all for your advice. I should be discharged on 26th August. However, included in my B'kruptcy was my previous home so I understand that I also have a repossession under attached to my credit file too, which is annoying but I couldnt rely on my parents to continue paying the other half of the mortgage - 6 months of it was too much to ask.