aldermore

droiderm

Can someone confirm that aldermore don't lend to bankrupts please ?:-(
I notice they have started doing newbuy with barrat.

ACG

Aldermore look at the wider picture.

If you have a good deposit, good affordability and are out of bankruptcy then i would think they would atleast look at you.

But if your looking at a 10-15% deposit 2 weeks after you have been discharged then no i dont think they would touch you.

droiderm

That's better news than i expected.
I suspect that they wouldn't entertain that on the 95 percent new buy product?
It will be off my credit file in Feb next year.
My wife has a promise from the Halifax but would be better joint due to affordability . Another 10k or so would give us more options.
The problem is only certain brokers are allowed by aldermore for that product.
I guess i would have to get in touch with one of them to get their opinion ?
I did i think i read aldermore wouldn't lend if there was bankruptcy or an iva ?
Or is that just currently ?

GMS

Aldermore criteria for bankruptcy states 'none'. I didn't think they would allow anybody who had ever been bankrupt but I stand to be corrected.

Even if the bankruptcy is off your credit file it will still need to be declared if the question is 'Have you EVER been bankrupt?'

Call a broker and ask them to check with Aldermore.

droiderm

That was my reading too. I just wanted to clarify if it means "none ever" or "none currently ". Its slightly frustrating that a lot of lenders kick it out on the face of it.
I wonder how many people actually do it twice !?
I understand it would always need to be declared.
This is why i am asking the question. It would be pointless getting a dip to be turned down later.
A joint application would be a nice to have

ACG

Sorry to be blunt but id rather save you time and effort.
If you have a 5% deposit you stand no chance. People with good credit histories struggle with 95% mortgages.

I would say you need atleast 15 or 20% if not 25%.

I would see a broker, they may no ways around it once they have all your circumstances on the table - but i wouldnt hold out for a 95% mortgage.