Post BR mortgage with Halifax

nobodycares

Hi,


Yesterday a mortgage broker approved myself and my wife for a mortgage of up to 260k with the Halifax. The only question regarding bankruptcy was have you been made bankrupt in the last 6 years to which I replied no. I was up front and honest with the broker and asked could we go out of the way to advise Halifax of my history rather than the application fail at a later stage. She assured me there would be no issue and she had helped other post BR's obtain mortgages through the Halifax. I am somewhat dubious and am worried we will get so far along in the process only for it then to fail.
My situation
Made BR Feb 09
Nothing negative on my credit file
Managed credit cards, bank account, phone contract & car loan as well as possible with zero missed payments.
Both me and my wife are in FT employment earning combined 60K
We have £40k deposit and hope to buy for around £200k mark so a 20% deposit and £160k mortgage ( no where near the £260k on offer )


Has anyone else had any experiance of Halifax mortgages after bankruptcy?

2kadmin

Hi,

You will be fine, Halifax's lending criteria is as you say 'bankrupt in the last six years'.

Things that might scare you although they shouldn't.

Solicitors 'Bankruptcy' check - This is a K16 search and you pay £2 for it, it will show people with the same or very similar names on the land registry who have been made bankrupt over the last 5 years, so you'll be off that.

Other than that you might get another credit check to ensure everything is still as it should be, provided everything else checks out you won't have a problem.

Fingers crossed for you, please post to let us know how you get on, it's great to hear success stories!

nobodycares

Cheers 2K I hope you are right and yes I will post how I get on although it will probably be a couple of months before things develop.

BRB-79

I would have thought you would be fine to be honest. I went through the DIP process to get a decision within minutes yesterday and that's with a deposit of around 33% or £125k. But the kicker with me is that Halifax were a previous creditor on the BR and my mortgage repossession was with Intelligent Finance (part of Bank of Scotland like Halifax) so I'm not expecting the full application to be successful if they go over inter-company debts. The decision in principle was painless however, I answered No to any BR registered within the last 6 years (mine was August 10th 2009 so just outside 6 years) and Yes to if there had any repossession history - decision came back that we could borrow up to £500k. Like I said though, that's one thing - the full application is something completely different.

missyp123

do you mind me asking if you also have a reposession in your bankruptcy?

we are saving and hope to have a 25% deposit in august next year just as our br falls off in the july. files clear also, just wondering if you also had a reposession to get an idea of our chances.

ty

nobodycares

I did have a repo but this was never asked or discussed during the application.
We have been looking at houses but have not found the right 1 hence no update

missyp123

nobodycares wrote: »

I did have a repo but this was never asked or discussed during the application.
We have been looking at houses but have not found the right 1 hence no update

Thank you for the response.

As i understand from reading on the forum's the repo is recored on a register that they will see...i guess if they havent asked then you dont need to say anything.
i was thinking that when we get to the point of speaking to a broker, that they will only be able to find us an offer if they know all the facts? (will have to think about this one!)

good luck with finding somewhere

neverletitgetyoudown

hi

thanks for this thread

i was decleared br in sept 2009 and discharged june 2010

my credit file is great manage bank accounts and credit cards (get paid off every month) to get my score/report up

we have got a mortgage agreed by halifax and was upfront with broker telling him and br and providing the paper work then yesterday when i seen the sols paper work with 'bankruptcy search" i started to get really worried!

but thanks to 2kadmin for their answer

i take it as its over 5 years now it wont show!

howa your house hunting going nobodycares?