Bankruptcy and getting a mortgage

Daerwen1986

My partner was discharged from bankruptcy in dec 2012, we are saving up to hopefully buy a house in the near future but don't know where to start to get a mortgage as know one seems to be interested in helping. Do we need to get his credit rating up ? If so how do we go about this and any other info would be much appreciated thanx

droiderm

Without being an expert i would say you have next to no chance so soon after discharge. I think 3 years at least after discharge but even then your going to be looking at a large deposit.

Contracts_Engineer

I was discharged in May 2012 and I'm currently saving for a deposit.

I'm saving for at least a 20% deposit before I embarrass myself by asking for a mortgage.

I tried for a vantage card in November to try to build up my rating but i was refused so i cant actually do anything to my credit rating for at least another 6 months.

There are some useful posts from people on here about mortgages after BR. If i remember correctly they said speak to specialist providers (rather than high street banks) because these will try to help you and if you go to a high street bank they will search for lenders which will then subsequently show on your credit file (i think i remembered that correctly but don't shoot the messenger!).

Keep your chin up, save loads, hopefully get a lottery win

Daerwen1986

Obviously we weren't expecting to get a mortgage so soon after.
Thank you for your advice I've also read else where that there is specialists that can help. Saving a big deposit should help so I guess that's what we will concentrate on

dojoman

Have a look here:)


https://forums.moneysavingexpert.com/discussion/2918012