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BR and wanting to move home?

caro50
caro50 Posts: 51 Forumite
in Bankruptcy & living with it
Can I just ask if you go bankrupt and get to keep your home because of negative equity does anyone know if you are able to move house in the few years following bankrutcy? to either something of same value or less or does this still cause problems?

Comments

  • dollparts
    dollparts Posts: 1,256 Forumite
    Tenth Anniversary 1,000 Posts Combo Breaker
    Circumstances dictate on this one I think.

    Someone will know, and will answer you I'm sure.

    Can I ask if you have sought advice from a debt charity?

    In the meantime you could read through the sticky at the top of the board.

    Sorry I couldn't be more helpful.
    There used to be a street named after Chuck Norris, but it was changed because nobody crosses Chuck Norris and lives.
  • the-muffin-man
    the-muffin-man Posts: 130 Forumite
    I assume you mean buying another house rather than renting?

    If you are wanting to buy then your biggest problem will be getting a new mortgage which you would have to do. Even if you could get one so soon after BR it is likely to be at a high interest rate so may not be affordable.
    BR 26th Jan 09 . . . Discharged 21/9/09 !!! :j:j:j
  • peachyprice
    peachyprice Posts: 22,346 Forumite
    Part of the Furniture 10,000 Posts Name Dropper
    Yes you can, if it's within 3 years of BR and you haven't bought the BI any profit goes to the OR, or any shortfall goes into your BR. After the 3 years you can do whatever you like.

    HTH
    Accept your past without regret, handle your present with confidence and face your future without fear
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