mortgages after br &repo

cutemum

As a new year begins I want to make plans for the future. I went bankrupt 2.5 yrs ago when my home was also repossessed. I am now renting a house and I am getting my life on track. I have a car which is nearly 8 years that needs replacing but I do not know if I would get hp. I am also thinking will I ever have the opportunity to buy a house again. I hate the thought of my family having to keep moving if the rental houses are sold. At the time of my br I had 5 months left of an hp agreement which I was allowed to keep paying. I also have a contract mobile phone. Apart from this I have no credit which feels really good but may not be helpful.

so sorry about the lengthy post- part of me feels I have no right to be thinking about looking for credit again. Can anyone give me advice about who I should talk to about possibility of a mortgage or the chance of hp for a car.

thanks

cattie

Unless you have a deposit & money for legal fees etc, it seems pointless to even be thinking about talking to somebody about a mortgage. I'd say put the thought of trying to buy another house completely out of your mind until you are properly on your feet & can feel pretty certain that finances are sound & that repossession will never happen to your family again.

arcon5

HP for a car would be more achievable.... but you may find yourself paying some eye watering interest rates. Really depends on your income etc.

In terms of a mortgage..... well you'd need a significant deposit and a lot of patience. A lot of patience being a couple more years probably.

cutemum

Thanks for your responses. I know it will be a few more years before I can do anything about a house but to know that it may be possible makes me feel better. It also gives me hope that I may be able to change my car. Thanks again.