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Mortgage with bankruptcy
Starlord87
Posts: 4 Newbie
I went bankrupt in 2011. I'm debt free now, earning a very good wage and got my credit rating up to the UK average (according to equifax). My bankruptcy is still on file until May next year but I am intending to try get a mortgage later this year with a 20% deposit. I'm wondering if it'll make any difference to my acceptance chances / rate if I apply later this year or wait until next year. Anyone got any experience in these matters who can advise?
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Comments
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It depends on which Lender you apply to.
Some will not consider you at any time. Some will consider you today, some in the future.
Passing time extends your lending options.I am a Mortgage Broker
You should note that this site doesn't check my status as a Mortgage Broker, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.0 -
I can only think of 2-3 lenders who will accept you at normal/normal-ish rates.I am a Mortgage AdviserYou should note that this site doesn't check my status as a mortgage adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.0
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If bankrupt how have you saved 20% deposit will be most lenders first questionDon't put your trust into an Experian score - it is not a number any bank will ever use & it is generally a waste of money to purchase it. They are also selling you insurance you dont need.0
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