would I have any chance getting a mortgage

clairc

I was discharged from bankruptcy on Nov 2013 and currently do not work as I care for my disabled children. What are my chances of buying my council house, value at £55,000, I would be sold it for £30,000 due to my discounts. My income/expenditure does show that I could afford a mortgage but I am unsure of the likelihood of securing a mortgage.

TheGardener

I would suggest you go to a 'whole of the market' mortgage broker and see if you pass the 'affordability tests' first as your income is all benefits.
You would need to make sure your CF is squeaky clean - have you done your CF cleanup? However, a regular High St mortgage may prove nigh on impossible to get until you are 6 yrs post BR. On the bright side, the discount is effectively a large deposit in terms of a mortgage and there are companies that specialise in local authority right to buy schemes.
As you are on benefits is buying the council house the best option for you? A secure tenancy is a valuable 'safety net' compared to the risks of mortgages?

alastairq

Hi...this forum is a UK-based forum. Therefore, the way BAnkruptcy is viewed in Canada may well be different to the UK.

As the GArdener states,anyone with a BAnkruptcy showing on their CRFs would be well advised to go to a 'whole-of-market' broker.

Rather than a broker who is tied to certain particular mortgage providers.

I don't know whether Canada would be the same?