Discharged bankrupt over 12 months can I get a mortgage?

droiderm

Yes, Nottingham Building Society,
I am not a mortgage adviser, I am only assuming they don't take it into account as because of the question they ask.

It wouldn't make sense for them to not take it into account on the application form, then take it into account at a later date when it comes back from the Solicitors searches.

For the record they also don't automatically decline 4 years after discharge.

Thrugelmir

droiderm wrote: »

I got a call back from Mansfield about the referall ( I didn't actually apply) but she seems to think there would need to be a 25% deposit , something to do with Mortgage indemnity insurance. I expeced that response at 95% LTV.

Smaller lenders reinsure the risk above 75% LTV at the borrowers cost. A condition of the cover by the insurers may be no previous BR.

Salander

That is very interesting, does that mean they may say ok to 5% deposit but require an additional fee each month or does it mean rejection.
Its all smoke and mirrors. If we knew this stuff we could act accordingly!

Frustrated

Bassplayer

I've been planning to try to get back on mortgage market and wondered if anyone knew of any brokers who could help? I assume they'd probably be specialists in poor credit mortgage finding?

I was declared BR 19th May 2009 and discharged on 11th February 2010.

My previous house was repossessed.

I have not yet checked or cleaned up my credit files, which would be a priority.

However, my long term g.friend has about £150K equity in her house and is happy to put that into the pot. That could equate to anywhere between 50% to around 75% of the price of whatever we buy (I live in Dorset where prices are high!), that's if I can get a mortgage and for how much.

So, any one know any specialist brokers that could help, or am I just better speaking to a few building society's directly? I see the Mansfield and Yorkshire building societies get name checked above.

Any help would be much appreciated.

Thanks all

Kevin

hanspans

So nice to hear stories of people getting mortgages or at least having the confidence to do so. My opinion for what it worth is a lot of mortgage talk is speculation, you;ll never know until you put in an application. I am saving for a deposit, or at least deciding if it worth trying. My ex-partner was violent towards me and i ended up in a women refuge and eventually went BK, so talking about it is very, very painful.

That was 2007, so quite a while now. Ironically, i work for a government provider issuing loans to start -up businesses now. And despite what I fear about BK and mortgages I am comforted by the fact that mortgage brokers and banks all have "targets", like me, and so the answers might depend on the time you ask. With the end of the financial year coming up...it might be a good time!