Mortgages

confusedbr2014

Hi all. Been reading previous posts about this so apologies for any overlap.

I went bankrupt in 2009 due to a business slowdown at the start of the recession. I personally owed £10k for a loan at the time, which was written off by the bankruptcy.

Anyway, I was discharged owing no money in 2010. Since then after working bloody hard my credit score is now 986. I've been given a loan for a car around a year ago, and I have multiple credit cards with limits up to £7250. I want to point out right now that my bankruptcy was purely as a result of massive business slowdown, and even though I now have all this credit available, I pay off EVERYTHING in full every month and have not missed a single payment on anything since the day I was discharged.

I'm in a very well paid job (£50k+) and my wife is in an equally well paid job (her credit report is crystal clear at 999). We have saved up a £25k deposit and want to buy a house of around £200k.

What are the chances of me getting a joint mortgage? I've heard Lloyds offer to discharged bankrupts... and that's where I bank, and have kept an impeccable account for the last 3 years.

I've seen conflicting advice/thoughts on this, so would love to know if anyone has tried and succeeded. I'm also curious if my clearly impressive credit rating (ignoring the bankruptcy) will give me a bit more of a chance.

Thanks everyone!

arcon5

Maybe consider making your wife the primary applicant?

2kadmin

Hi,

I would speak to a broker, there are a few on here and there are some excellent posts about mortgages post BR. Your credit rating will stand you in good stead, however the solicitor search will reveal your bankruptcy for five years so ensure you are honest with everyone! You’re possibly better looking through a broker that will know the market, and not waste applications on lenders that will automatically reject you.

To answer your question
Your credit is excellent
Your deposit is good i.e. over 10%

I would say your chances are good.

I have a mortgage with Nationwide, and that was 5y 3m after discharge with a completely clean credit file, i.e no mention of the BR and the K16 was clean as well.

Hope this helps.

2k