Think positive!

Black_Eyeliner

Hi everyone.

I was declared bankrupt in July 2007, so I know how hopeless it can make you feel.

But today I got the keys to my new house, which I purchased through the Help to Buy (Mortgage Guarantee) scheme. Seven years ago I would never have believed that I could own my own home.

So it is possible for ex-bankrupts to get their credit files sorted out and to get a mortgage.

Think positive!

macbabypam

Congratulations, it's nice to read that things can work out for you when you decide BR is the right route for you.

Well done in moving on with your life and I wish you the very best of luck in your new home.

lindsaygalaxy

Congratulations. Which bs did you use? How much was the purchase? We are currently wauting for everything to fall off my file (4 more months!) before we start looking around.

Black_Eyeliner

The mortgage is with the Hakifax. You don't need to declare your bankruptcy to them if it was more than six years ago.

SomebodyToldMe

As a new BR, thanks a lot for posting- very inspirational!

wharty

Black_Eyeliner wrote: »

The mortgage is with the Hakifax. You don't need to declare your bankruptcy to them if it was more than six years ago.

So they didn't ask on the forms if you have ever been bankrupt?

Black_Eyeliner

Yes they do ask if you've ever been bankrupt, but the brokers' guidance for completing the form states:

'The Bankruptcy question should be answered as yes if you have had a bankruptcy/IVA or Debt Relief Order within the last 6 years OR still have an outstanding Bankruptcy Restriction Order'.

My advice is to see a broker who can help you find the right mortgage for you. Ours was free of charge and whole of market.

debtinfo

Well the broker will have insurance to cover their own back when giving advice but ultimately you are responsible for ensuring that the information you give is correct. There is no statute of limitations for declaring a bankruptcy and therefore if the question "have you ever been bankrupt" is asked it can only be presumed that the use of the word "ever" should be taken in the generally accepted usage of the word. ie "at any time"

Black_Eyeliner

I'm only repeating the Halifax's own criteria. Have a look at their website if you don't believe me:

http://www.halifax-intermediaries.co.uk/criteria/mortgage/default.aspx?filter=B

debtinfo

ah right, sorry i thought you meant the advice had come from the broker but if the lender is asking for only 6 years then thats fine, after all it is them you are doing the contract with

Black_Eyeliner

No worries. I should also point out that Nationwide were prepared to lend to us, but they don't do Help To Buy.