bankruptcy & house buying

thefoolonthehill

Hi all

a friend of mine is in around 30k of debt and cccs have recomended bankruptcy. She is seriously considering this but is hoping to get onto the property ladder in the next couple of years.

is it possible to buy a house after being made bankrupt?

plumduff-2

Yes, you can - although might get charged a slightly higher percentage rate...


Member Progress1712 posted:

Thought these links might come in handy if any of my fellow Ex B’s are thinking of a mortgage in the near future. It seems the preference with most is that you have been discharged for a year, typical LTV (loan to value) is 90% if any one got a mortgage at 95% LTV with any from below I’d be interested to know especially the Chelsea. If any one can add anything at all I’d love to hear it

http://www.bmsolutions.co.uk

http://www.mortgageboss.co.uk

http://www.gmacrfc.co.uk

http://www.thechelsea.co.uk



(this is from the DHUK website...)

pudding06

---

Yes, you can - although might get charged a slightly higher percentage rate...

ours is 2.75% above the bank of england base rate and we'd been discahrged for 5 years when we applied.

It was difficult getting a mortgage, all banks turned us down, and we went through a broker who specialises in people like us, who got us one.

ours is through general motors (3rd link) and theyve alwasy been fair with us and everything went smoothe for us with them - though we do pay over the nose so to speak.

thefoolonthehill

thanks guys will pass this on