DRO and Br differences?

The_fog_has_lifted

Hi there, I did ask this on the bankruptcy board but know one seems to know. In terms of a future mortgage are bankruptcy and debt relief orders view any differently?? Do lenders see one as more risk than another or do they both do the same damage to your credit for life. Some thing DRO' s are less damaging but are they both not technically see as 'bankruptcy ' in the eyes of a mortgage lender??
Thanks for your time replying. X

Let_Us_See

Currently there are lenders which will not consider a former bankrupt in any situation. Fortunately, there are more flexible lenders, including a High Street name that will consider an application three years after the bankruptcy has been satisfied. Other lenders will consider a period of 4 and 5 years. So a bankruptcy needn't be the end of the world.

Unfortunately, I do not recognise DROs?

Thrugelmir

DRO's are a form of "bankruptcy" and as such will remain on your credit record for 6 years.