How I got a mortgage within 6 years of BR

downhillfast

Hi All

I was just wondering if any of you have any experience of obtaining a 95% mortgage after bankruptcy? I was discharged [STRIKE]4 years ago[/STRIKE] (sorry night-shift brain, that's when my credit files were clear!) - I was discharged 9 years ago and have been able to get decent credit cards, loans etc so I think I'm well and truly back in the good books as far as lenders are concerned (although I haven't tried for anything with any of my ex-creditors!). The thing is we live in the South East and although we have been saving hard its beginning to feel like we're fighting a losing battle with how fast we can save compared with how much prices seem to still be climbing down here! We were originally aiming for a 90% mortgage but have the affordability to go for 95% if we could just get a reasonable mortgage.

Anyone been able to get one?

[Deleted User]

If your property is under £250k (in some parts of the South East that's pushing it!)..... Nationwide allow up to 95% up to £250k - consider ex-BR 3 years after discharge. They don't appear to apply any upper limits (e.g 85% like many providers) to ex-BR customers - certainly doesn't say so on their website or intermediary site.

You could try ringing them and asking (since they do direct applications). At 4 years discharged 95% might not be considered such a 'special' case to require a broker.

Being a 'normal' Bank/Building society, they don't have crazy rates like some of the sub-prime/credit repair lenders - so personally I'd always give them a shot before trying anywhere else. Worst they can say is 'no' and you are 1 search 'down'. If they say yes you've got 95% and a presumably a very competitive rate!

Kojo_2

Kojo 6th Sep 16, 5:11 PM
Hi
Myself and my children are British citizen my wife is a Ghanaian recently granted leave to remain for 30months and will qualify for indefinite leave to remain in 2019.
I currently have existing mortgage and purchasing bigger house

So far I am unable to find any lender who will offer 90% LTV except up to 75% LTV only.
I know that my wife will be qualified for indefinite leave to remain in uk however some lenders are unwilling to offer mortgage in excess of 75%.

Are there any lenders who can help or understand rules regarding immigration rules via 5 year route
Or are there any lenders who can offer up to 90% LTV please
Thank you

downhillfast

Somerset_La_La_La wrote: »

If your property is under £250k (in some parts of the South East that's pushing it!)..... Nationwide allow up to 95% up to £250k - consider ex-BR 3 years after discharge. They don't appear to apply any upper limits (e.g 85% like many providers) to ex-BR customers - certainly doesn't say so on their website or intermediary site.

You could try ringing them and asking (since they do direct applications). At 4 years discharged 95% might not be considered such a 'special' case to require a broker.

Being a 'normal' Bank/Building society, they don't have crazy rates like some of the sub-prime/credit repair lenders - so personally I'd always give them a shot before trying anywhere else. Worst they can say is 'no' and you are 1 search 'down'. If they say yes you've got 95% and a presumably a very competitive rate!

Property prices may rule that out unfortunately... we're looking at £350k for a 2 bed ground floor flat/house with a garden. £250k won't even get a 1 bed with no garden round here!

[Deleted User]

Ah! At that price you may well struggle with 95% anyway - adverse credit or not. Many places are about 300 or 350k tops exposure limit for 95%, and those more fussy ones want clean credit profiles above 85%.

Having a initial chat with a broker can't hurt, or post in the mortgage board on here - a lot of brokers post

Ah just seen your edit.... with it being over 6 years since registration that'll open up a lot more options for you, as effectively you are 'clean credit history' unless they weight against you (or decline) when you answer yes to the 'ever bankrupt' question.