Discharged bankrupt over 12 months can I get a mortgage?

Lotso12

Hi
I am a discharged bankrupt just over 12 months now, currently in rented accommodation and would like to buy a property, is a mortgage possible? Never went into arrears with mortgage so house was not re-possessed pre bankruptcy

Any information would be great

Thank you
Lotso:)

droiderm

Your most likely going to need a large deposit. Even then it's likely your going to have to be discharged for at least 3 to 4 years.

Salander

Hello,
My wife and I are ex bankupt, it will be 6 yesrs in Jan we gave 5% saved and are looking to buy for approx £200k
I have justvspoken to the mansfield Buikding Society andvthey seemed hopeful, but withiut a full applicatiin they cant be certain. It woukd also have to go via their indemnity insurers butvagain tgey are hopeful with the info I have given. We earn combined 70k are in gge ekectoral role, have lived at the same address for 5 years. We are botn stable jibs. I would be interested in other opinions about whether we would be accepted.
Thanks

maxmycardagain

Salander wrote: »

Hello,
My wife and I are ex bankupt, it will be 6 yesrs in Jan we gave 5% saved and are looking to buy for approx £200k
I have justvspoken to the mansfield Buikding Society andvthey seemed hopeful, but withiut a full applicatiin they cant be certain. It woukd also have to go via their indemnity insurers butvagain tgey are hopeful with the info I have given. We earn combined 70k are in gge ekectoral role, have lived at the same address for 5 years. We are botn stable jibs. I would be interested in other opinions about whether we would be accepted.
Thanks

hello hello ........... :rotfl:

Salander

That was very helpful. Anybody else.
Ps sorry about the spelling its the tablet im using..

Lotso12

Hi
Thanks for your information, we were only looking to borrow 100k and put 10% deposit down, in a good job earning £58,000. Keep me informed how you get on with your mortgage application
Thanks again

droiderm

Salander wrote: »

Hello,
My wife and I are ex bankupt, it will be 6 yesrs in Jan we gave 5% saved and are looking to buy for approx £200k
I have justvspoken to the mansfield Buikding Society andvthey seemed hopeful, but withiut a full applicatiin they cant be certain. It woukd also have to go via their indemnity insurers butvagain tgey are hopeful with the info I have given. We earn combined 70k are in gge ekectoral role, have lived at the same address for 5 years. We are botn stable jibs. I would be interested in other opinions about whether we would be accepted.
Thanks

How strange, I spoke to the Mansfield a few hours ago.
We are in a similar situation to you.

I am waiting a call back to see if it's worth going any further. I do have doubts they will come back with good news at that level of deposit.

I also rang Ipswich who would require 15% before looking at it.

It's worth pointing out that mansfield require discharge for 3 or 4 years.

It would be worth keeping these threads alive to see how people get on with % deposit for particular lenders.

Salander

Does anybody know how much a rejection would damage someones credit file? If not much then it might be worth doing~if itvwould be catastrophic then maybe I woukd need to be more certain before preceeding...

droiderm

The general conscencus seems to be one every 6 months.
I will be applying in 4 weeks once my credit file is clear (at 5%) then try again when I have saved 10% etc etc

Salander

Pehaps you can let us know whatbthe Mansfiekd say when they call back?

droiderm

Of course. People quite frequently ask about mortgages on here
It would be useful for everyone to share their experiences.