Getting mortgage after Bankruptcy

northgate

Hi all,

I'm quite new to all this but I went bankrupt in Feb 2002, served my 3 years and have been all sorted since. My only problem is i'd now like to get a mortgage and i'm not sure what the best bank would be or how my bankruptcy might affect it. I'll have completed my 6 years post bankruptcy in Feb 2011 so was thinking of starting to look then. Can anyone offer any advice?

I'd be really grateful for any help.

Thanks,

Northgate.

dojoman

northgate wrote: »

Hi all,

I'm quite new to all this but I went bankrupt in Feb 2002, served my 3 years and have been all sorted since. My only problem is i'd now like to get a mortgage and i'm not sure what the best bank would be or how my bankruptcy might affect it. I'll have completed my 6 years post bankruptcy in Feb 2011 so was thinking of starting to look then. Can anyone offer any advice?

I'd be really grateful for any help.

Thanks,

Northgate.

If you went BR in 2002 your BR should have come off your file 2008?
As for getting a mortgage as long as you have a hefty deposit you should find someone willing to give you one, although I would imagine the interest rate to be quite high.

Doucam

What dojo said, the BR should be long gone now from your file.

Have you been rebuilding your credit file since discharge? If you have and you have a good deposit then I would think you would be ok tbh. Although if they ask the question have you ever been BR then you do of course have to answer yes.

Good luck and please keep us informed, either way, as it all helps us on here as well to know what happens!

Gemlou26

Hi,

I agree with the above, however, I would strongly recommend you contact a good mortgage broker, they will be able to advise which lenders you stand the best chance with.

If you call round yourself the lenders won't be able to tell you if they would except you for certain unless they do a credit scored decision in principle, you may end up damaging all the good work you have done cleaning up your file by having numerous searches done with lenders you never stood a chance with to begin with.

I used to be a mortgage advisor and have seen this many times.

Good luck let us know how you progress.

lizbet21

My understanding is also that after six years it will be wiped from your credit history.

Doucam, I have been discharged for 4 years now, and wanted to know ways to rebuild my credit history after discharge as I would be keen to do this. I was advised to take out a loan or credit card. Although it would be high interest, it would show that I can repay my debts up until it is removed from my credit file in My 2012. Is this true, and do you know of the companies that would accept me?

Sorry to jump on your post too Northgate, but have a similar query!!!