Can I get a mortgage?

JoJos_3

how can you possibly know how long it will take me to save the money?

workinonit

your attitude is awful.

originalmiscellany

So then:
If you're serious, there's an SOA (http://www.makesenseofcards.co.uk/soacalchelp.html) which could be used to give an idea of how much you could afford per month to get to your target of 50k - well done on getting half way there - it's a good achievement, and something to be proud of!
Most people on this board see regular questions being asked, such as this, and often ask the follow up question before answering the one before! I think that's where some people have done here.

Chin up, get saving, and well done on your targets!

shortchanged_2

workinonit wrote: »

your attitude is awful.

Yes but you have to look at the Newbie sticker, please be especially nice. However the Newbie can be as rude as they like, particularly if they don't like what they hear.

Engeroosi

Jojos, you are very negative towards anyone here who is trying to help you.

In blunt answer to your question, "Can you get a mortgage?" NO! You don't have sufficient deposit yet, and your credit rating hasn't had time to recover yet!

workinonit

shortchanged wrote: »

Yes but you have to look at the Newbie sticker, please be especially nice. However the Newbie can be as rude as they like, particularly if they don't like what they hear.

I understand the newbie sticker to mean don't jump down peoples throats if they ask a silly question, or something that's been covered a thousand times etc. Manners are something people presumably know before they sign up to MSE and I believe that is what is missing from the OP interaction with others.

suicidebob

The answer? No one knows.

Go get some professional advice.

holly_hobby

As a discharged bankrupt - getting a mge will never be as plain sailing as it may be for an individual without this blip on their credit history. (but I think from your post you already suspect that).

You are also apparently self employed too - which obviously means you manage the running of your business' , are your own boss and effectively pay your own income. This may be of added concern for any lender - but if your income (proven by your audited books) is bouyant and on the increase (which hopefully by the time you have saved your deposit it will proven or not already), than that would be a big positive.

Any lender looking an ex-bankrupt will seek to establish the basis of bankruptcy (i.e just pure financial mis-management or there were other aspects which influenced the bankrupty). They will be trying to build a risk picture of you, and your attitute to debt - so with that aspect, and to help rebuild your credit profilt - it may be a consideration to have a credit card (if you qualify). Doesn't have to have a huge limit, but I would use it on a regular basis (not especially costly purchases just normal i.e petrol, groceries, etc) but I would ensure I repay the whole lot each month - to give hard evidence to the lender of your responsible attitude to borrowing and debt. (also that another financial provider was willing to take a chance with you, and that their decision to do so was not mis-placed).

The lender will wish to know how long the individual has been dischaged for, and in some cases if the individual has satisfied the bankruptcy ie paid the os debt to the court.

Any bankruptcy from non payment of taxes is usually a huge problem - but from your post this isn't the case.

The fact that you applied for bankruptcy as a result of the fall out from a tribunal you were involved in, may sweeten the case, as it wasn't (from what you advise), and out and out case of an individual just getting in a financial mess and looking for the escape hatch.

Of course your application, form what I can tell, will not be for some time yet - as previously stated the longer away from the point of discharge you apply, with a clean record during the intervening time, and evidence of steady income etc .. is all to the good.

I've tried to give as informative info as I can in the cirucumstances, as naturally none of us here can recommend a lender in present time, whom in the future mths/yrs will either A) still be around and lending or still accept discharged bankrupts.

But I do hope I have been of some help ....

This is a great source of free advice, some given by professionals in the industry, some by individuals whom have "been there done it" and some who just want to help - its all given freely and from well meaning peeps - so it isn't pleasant to see friction on a thread.

Furthermore, my own advice is always the same, although good as an initial sounding board, never act directly on advice given on a forum, always seek, especially in non-standard situations, the professional advice of a suitably qualified adviser.

Good luck for the future house hunting ... !!

Holly

olivia84

this has probably been mentioned loads in other threads but i'm sure i read ages ago that legal and general were starting to introduce mortgages where they don't use carry out a credit check?? they go back to basics and an actual person looks at everything like income and expenditure, ability to pay etc and judges whether you should qualify or not. i think you would need quite a large deposit but it looks like that wouldn't be a problem

JimmyTheWig

JoJos wrote: »

Actually my bankruptcy was not of my doing, I had to take a company to a tribunal and due to them, couldn't find another job, and had to pay for a lawyer, with no income I couldn't pay for my outgoings, therefore declared myself bankrupt. And by the way won the tribunal.So you may not want to jump to conclusions.I currently run three businesses, have a business account, so obviousley not deemed a high risk anymore. Think I will get advice from someone not so patronising. Thanks anyway!

Is this aimed at me? (I'm guessing it must be as it follows my post.)

What did I write that offended or patronised?

(Unless there was another post inbetween that has since been deleted?)