kensington Criteria

ollie2008uk

do any brokers on here know if Kensington accept discharged bankrupts?

I have been discharged since may 2010 went br in may 2009.

Any help would be great

amnblog

No bankrupts for Kensington unless discharged 6 years

amnblog

You need a good broker a strong deposit, and a specialist lender.

Senior_Paper_Monitor

I think its a lifetime ban for Bankrupts with Kensington AMN (at the moment - I seem to recall a rumour that it might change shortly) .....


Applicant Exclusions
[FONT=FS Albert Light,FS Albert Light][FONT=FS Albert Light,FS Albert Light][FONT=FS Albert Light,FS Albert Light]Applicant exclusions apply for Disqualified Company Directors, back to back sales within 6 months of application (within 6-12 months refer to Kensington for consideration), foreign nationals with less than 12 months bank records available, those with bankruptcies (including discharged) and Individual Voluntary Arrangements, those who have been subject to a repossession within last 3 years and those with criminal convictions, sale and rent back transactions. No remortgages within 12 months of a purchase or previous remortgage. Where the applicant is paid in cash, their gross pay must not exceed £10,000 otherwise this will be unacceptable to us. Applicants that have entered into payday loan agreements (advances against income loans) in the last 12 months will not be acceptable. Where there is evidence that the applicant has recently inherited a property, the application can only be considered when probate has been finalised and all the beneficiaries are shown as owners of the property at the Land Registry.[/FONT][/FONT][/FONT]

ACG

I didnt think they accepted ex bankrupts at all either.

Mortgage_Mark_2

Nope, if you tell Kensington you've been bankrupt at all, you'll be declined.

I had a client a while back who was discharge 26 years ago, and was told categorically no.

I suspect the 'not in the last six years' answer is with a view to answering the question "Have you ever been bankrupt?" 'no'... (that's what we are actually told to do by our Halifax BDM...)

Senior_Paper_Monitor

Halifax criteria and instructions confirms that is correct ...


"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"


... yet another of those 'must remember to put the wrong answer in to make the system work' items we are supposed to remember while the sword of damacles hangs over our heads if ever lie on an application form !!!

Mortgage_Mark_2

Senior_Paper_Monitor wrote: »

Halifax criteria and instructions confirms that is correct ...


"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"


... yet another of those 'must remember to put the wrong answer in to make the system work' items we are supposed to remember while the sword of damacles hangs over our heads if ever lie on an application form !!!

Yep - we had a visit from their BDM a fortnight ago and when I asked why they didn't just change the question to "...in the last six years?" the response was "Well....erm....I'm not sure really...".

Helpful.

ACG

Mortgage_Mark wrote: »

Yep - we had a visit from their BDM a fortnight ago and when I asked why they didn't just change the question to "...in the last six years?" the response was "Well....erm....I'm not sure really...".

Helpful.

Did you not suggest the right answer would have been "thats not a bad idea, I will feed it back" knowing full well they wont.

kingstreet

I know it may seem a little "retentive" but I have ensured I have at least two copies of the email on 16/9/13 which said;-

"As part of the submission process you're asked if the customer has ever been declared bankrupt. This should only be answered 'yes' if it's happened within the last six years. This six year rule should also be applied to the other questions about CCJ's and arrears."

One is local and one is Cloud-based. Not that I'm paranoid or owt.

Mortgage_Mark_2

kingstreet wrote: »

I know it may seem a little "retentive" but I have ensured I have at least two copies of the email on 16/9/13 which said;-

"As part of the submission process you're asked if the customer has ever been declared bankrupt. This should only be answered 'yes' if it's happened within the last six years. This six year rule should also be applied to the other questions about CCJ's and arrears."

One is local and one is Cloud-based. Not that I'm paranoid or owt.

I have two saved on this very PC! Great minds...