Rebuilding credit post bankruptcy

Legacy_user

Hi,

My partner and I we're discharged from bankruptcy approximately 18 months ago. We both corrected our credit reports and 6 months ago got a Vanquis card each with a small limit. How to we proceed to rebuild our credit? Ultimately we want to get a mortgage as soon as possible. We also have mobile phone contracts which have been running since before bankruptcy without any payment issues.

What are the next steps to continue rebuilding our score?

Thanks in advance.

Lee

woodformoretrees

If you have a look at the second sticky thread down on the board index there's a brilliant guide to credit file cleanup.

tigerfeet2006

You've done the right thing by cleaning up your file as a first step.

Next step is keeping it squeaky clean between now and when apply for a mortgage.

Make sure you pay all the various forms of credit on time. Maybe get another credit card, pay off in full each month. A catalogue account, again pay off.

Take this time as well to save as big as a deposit as you can. The bigger the better. 20%+ seems to be normal.

You will probably find it difficult, not impossible as a few posters have managed it, to get a mortgage before the BR drops off your file.

You most likely will be best to go to a whole of the market advisor rather than a high st bank.

You will have to answer yes if asked have you ever been BR.