Mortgage after BR

ollie2008uk

Hi All,

I am looking to purchase a house soon, I was wondering how anyone had got on with obtaining a mortgage after BR?

I am 4 years discharged and 5 years since BR.

I was looking over nationwide's criteria for brokers online and they say they take people 1 year discharged. Has anyone else seen this or know of anyone else to look towards?

My credit score on experian is 966. i have 2 credit builder CC's with no balance as I use then pay off and have done for about 2 years.

Any advice / experiences would be greatly appreciated,

Thanks

ethank

I think it would be a good idea for you to speak to a broker for advice.

2012_bride

Broker would be the best place to start.

We both went BR and the 6 years is now up and it's been removed, but it still stays on the register so shows up when the solicitor does a BR check before completion, so you are stuck with it forever!

I know Natwest / Rbs, & Lloyds will not lend no matter how long ago it was
Nationwide & Halifax will but not sure after how long
Leeds BS is 6 years after discharge so 7 after the date.
Woolwich will as long as it has been removed from your credit file, so 6 years

There are a few people on the BR board who have obtained mortgages, some even on the Help to Buy Equity schemes, but I think they were after the 6 year mark. Maybe do a search on there

Oldbill99

We went to visit a Broker and he's on the 3rd Lender but things are not looking hopeful. Despite being told by them that 3 years from discharge would be enough for some Lenders to consider us. We have a huge deposit (25% of what we want to borrow), and £1900 spare each month but we're not deemed to be viable borrowers. I got a bank account and a credit card as soon as I was able to in order to build up my credit rating, but it's still no good

GMS

Lenders may 'consider' discharged bankrupts. That doesn't mean they will accept.


What percentage deposit do you have? What is the property value?

GMS

Oldbill99 wrote: »

We went to visit a Broker and he's on the 3rd Lender but things are not looking hopeful. Despite being told by them that 3 years from discharge would be enough for some Lenders to consider us. We have a huge deposit (25% of what we want to borrow), and £1900 spare each month but we're not deemed to be viable borrowers. I got a bank account and a credit card as soon as I was able to in order to build up my credit rating, but it's still no good

What is the purchase price? Which lenders have been tried?


Maybe time for a new broker. Slinging mud hoping some sticks will harm credit score further

ACG

25% deposit and 4 years in the clear - this should be possible.

If 3 lenders have declined it, they are either strict lenders or there is something we are not aware of. Making too many applications is going to cause more harm than good, I think at this stage I would be speaking to a lender its likely to go through with rather than chasing rates.