Firt time buyer with complications

jeff23

Guys,

Looking for some advise

6 years ago January coming I was made bankrupt after falling into a situation due to loss of my job.

Unfortunately my old man passed away 3 years ago but with this my mums mortgage was cleared after the pay out of life insurance. I am now looking at buying my own property as I have settled in a well-paid job but moved area so need a place of my own.

Mum is the sort of person that wants to help as much as she can but I am looking at getting advise on taking equity from my mums property to help buy a house of my own, does anyone know if I would be able to use the shared ownership scheme using 60k from my mums house where I am still in a position of having bankruptcy against my name for the coming few months?


If I wasn't able to get a shared ownership scheme deal do you think it would be still possible to buy?

stator

Your mum would have to take out a mortgage and sign over the money formally as a gift.

If you had a bankruptcy 6 years ago wait until it drops off your credit report and don't apply for a mortgage with a bank you owed money too, they will still know about it.