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Remortgage after bankruptcy
Beeches3
Posts: 66 Forumite
Hi all, a quick question!
My partner was declared bankrupt for a failed business in jan 2012.
We are hoping to remortgage our property in my name only (earnings£35000pa). We are looking at possible 65-75% LTV. Need also to check credit file as there's a few defaults.
I know we need to see an independent broker but wondered if this was do-able due to the LTV?
Thanks in advance
My partner was declared bankrupt for a failed business in jan 2012.
We are hoping to remortgage our property in my name only (earnings£35000pa). We are looking at possible 65-75% LTV. Need also to check credit file as there's a few defaults.
I know we need to see an independent broker but wondered if this was do-able due to the LTV?
Thanks in advance
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Comments
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I'd imagine this will still be somewhat tricky due to the financial link between you both and lack of time since bankruptcy...ORIGINAL MORTGAGE AMOUNT £106,454.00 (Started Sept 2007)
NOV 2021 O/S AMOUNT £1,694.41 OUR DEBT REDUCED BY £104,759.59 by std regular, over-payments & off-setting.
BofE +0.19% Tracker Repayment Offset Mortgage Discounted Sept 07-10 then increased to BofE +0.62% until 20270 -
Thanks for the reply hillcats...since had a look at the credit file and it's a bit of a mess right now. Intend to spend sometime repairing this and getting back to a "better place"!! Then perhaps together with a good credit file, distance from the bankruptcy and a strong LTV, we'll achieve our goal!
Thanks again!0 -
It could be achievable now, but the rate wont be great. 6-7% possibly as high as 8-9%.I am a Mortgage AdviserYou should note that this site doesn't check my status as a mortgage adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.0
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Unlikely any lenders will allow, as if she is named on the mortgage/deeds at present she will have an interest in the property, if she remains living in the property then they will not allow that.I am a mortgage adviser.You should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.0
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