Getting a mortgage with a BRU

Foxnthebox

Hi All
Was discharged from my Bankruptcy in Dec 2011 but through a silly mistake I made during the process a BRU was put in place until Sept 2017.
Does this mean I have no chance whatsoever of getting a mortgage until then as currently my wife and 2 kids are renting until we reach this date.
We are saving hard and with my 45k salary are looking to get a deposit together but was wondering if there's anything we can do now whilst still a year or so off of the BRU?

Johnsmith2016

Although I am unsure about the BRU i think you have the same restrictions as a undischarged bankcrupt. the bankcruptcy itself will pose enough problems trying to get a mortgage I would try nationwide who will lend 36 months after discharge - or 4 years after bankcruptcy.

You are going to need a good 15-25% deposit possibly minimim 20%.
Please see lender criteria below


CCJs : Refer to lender
Defaults : Refer to lender
Arrears : Refer to lender max months 3
Bankrupt : Acceptable, min months Discharged 36
Current IVA : Not Acceptable
Repossession : Refer to lender

An application may be referred if either applicant has exceeded 3 months

A4445

I received a BRU. I was discharged in Dec 2010, the BRU was satisfied April 2014 it's on my credit file for another 6m 10m after the bankruptcy was removed. If found the BRU can be looked more negatively by some lenders. Nationwide declined a recent application for flex direct account, Aqua won't accept me for a credit card either. Other lenders don't mind. As far as I know you wouldn't be able to have any type of credit until your BRU is satisfied, the whole term is exactly the same as being an undischarged bankrupt.