Help to buy after bankruptcy

Experian_company_representative

Bankruptcies and court judgments drop off the public register after six years, but many lenders will ask if you've ever been bankrupt. Also, if they were a creditor in the bankruptcy they may keep this on their internal records for a period of time.

James

erlando1

Experian_company_representative wrote: »

Bankruptcies and court judgments drop off the public register after six years, but many lenders will ask if you've ever been bankrupt. Also, if they were a creditor in the bankruptcy they may keep this on their internal records for a period of time.

James

I thought as much but it isn't exactly ideal if they refuse you a mortgage after 6 years of bankruptcy when you are trying to buy. Surely mortgage companies should look at people like myself who will have been bankrupt over 6 years ago and got a credit rating on experian of 993 out of 999 and start to trust them again. You can understand mortgage companies being wary of people who have been bankrupt but at some point surely they have to trust some of them.

joe134

erlando1 wrote: »

I thought as much but it isn't exactly ideal if they refuse you a mortgage after 6 years of bankruptcy when you are trying to buy. Surely mortgage companies should look at people like myself who will have been bankrupt over 6 years ago and got a credit rating on experian of 993 out of 999 and start to trust them again. You can understand mortgage companies being wary of people who have been bankrupt but at some point surely they have to trust some of them.

hI, erlando, my Grandson has the same problem, but it,s a ccj not BR.
He admitted his CCJ, and was denied a mortgage, so is now thinking of not admitting to it, because, he fears he may be denied again, or loaded.
If it,s not on any list, it seems wrong to be asked if" ever", unless they are creditors, which is a catch 22 situation.
That,s why the 6 year period exists.
You get different answers, so, there doesn,t seem to be a YES/NO , one.
I don,t want him to lie, but, the banks don,t exactly encourage you to tell the truth, or why would one ask in the last 6 years ( Nationwide") and others ever? You don,t know that, until you are sat in front of your Broker of choice.Asking a Bank to trust you with their record.:rotfl:
Best of luck.

erlando1

joe134 wrote: »

hI, erlando, my Grandson has the same problem, but it,s a ccj not BR.
He admitted his CCJ, and was denied a mortgage, so is now thinking of not admitting to it, because, he fears he may be denied again, or loaded.
If it,s not on any list, it seems wrong to be asked if" ever", unless they are creditors, which is a catch 22 situation.
That,s why the 6 year period exists.
You get different answers, so, there doesn,t seem to be a YES/NO , one.
I don,t want him to lie, but, the banks don,t exactly encourage you to tell the truth, or why would one ask in the last 6 years ( Nationwide") and others ever? You don,t know that, until you are sat in front of your Broker of choice.Asking a Bank to trust you with their record.:rotfl:
Best of luck.

I feel for him. Its a pain because u get told that its only on ur record for 6 years but infact it can be picked up on at anytime