Discharged bankruptcy friendly mortgage lenders

DM1985

I was discharged in April 2011 and have been rebuilding my credit file using a Vanquis Card.

I have also done the post bankruptcy clean up and now only have 2 defaults left to be updated.

I have a mortgage with Santander and have never missed a payment, repossesion wasn't an option due to negative equity in the property.

I am now looking to buy a bigger house due to having kids and being in Scotland I have looked at the Help to Buy scheme available on new-builds. I spoke with a Finance Advisor and he seems to think that nationwide would be an option however he did say that there are others out there also.

Has anyone had any experience with the other 5 lenders in this situation?

I believe they are:

Lloyds Banking Group
Barclays
Nationwide
Glasgow Credit Union
Leeds Building Society
Skipton Building Society

Thanks

ACG

Skipton is 3 years from discharge i think.
Barclays is 6 years for bankruptcy from memory and 3 years for general adverse.
The rest i cant comment on as i dont know for your circumstances.

HTB and bankruptcy is not a great mix, its going to com down to credit score so its difficult to say.

DM1985

Thanks for the reply

At least it sounds like there is a chance that I will be able to get a mortgage somewhere else then.

I didn't think HTB would be an option because of the bankruptcy however when I spoke with the Finance Advisor he said it shouldn't be an issue as it would all come down to affordability.

There is another scheme in Scotland MI New Home that allows you to purchase a new property with a 5% deposit. Do you think this would be a better option due to the bankruptcy?

Do you know if its the same lenders or if there are others?

lee111s

I doubt you'll get a lender offering a mortgage with a 5% deposit following bankruptcy. I'd imagine you'll be needing at least 15% to stand a good chance.

Foxy-Stoat_3

Are you still in negative equity in your current home?

ACG

When i have put 3 years, i mean 3 years before they will consider it.
It does not mean you will or wont be accepted.

It is not just affordability at all, you have to pass the credit score/credit check, affordability and both you and the property needs to meet the lenders requirements.

Being completely honest i would probably not want to take this on personally. Thats not to say you will not get accepted, it just means i would not be overly confident... however your broker has seen more than i have so he may have spotted something i have not.

Black_Eyeliner

I was declared bankrupt in 2007 and discharged in 2010 (I live in Scotland) and hubby and I have just been approved for a HTB with the Halifax. So it is possible.

DM1985

Unfortunately Halifax where a creditor for me.

It's good to know that there is hope though.

Black_Eyeliner

Halifax and BOS were also creditors for me.