Right to acquire/right to buy 7 years after bankruptcy

suzie1time

Looking for some advice on obtaining a right to acquire or right to buy (if the government ever roll it out to housing associations) mortgage BUT i have a bankruptcy from 2010 which was discharged after 6 months. I've been working hard over the last 6 years on building up my credit rating and ensuring all is well with my credit file and my score is actually pretty decent.

So my question is, will I be able to get a mortgage. If I can, who is the best for a right to acquire or right to buy mortgage and will I need a deposit as I've heard they would use your discount/equity in the property instead of a deposit.

Also I'm 47 so I feel time is running out for a mortgage but I'm trying to hang on until the right to buy is rolled out nationally next year.
And it would be just in my name too.

Thanks in advance.

da_rule

Unlike Help to Buy, there are no special Right to Buy mortgages (https://righttobuy.gov.uk/wp-content/uploads/2014/06/140618-RTB_mortgage-know-the-facts-document-FINAL.pdf), you can access the same mortgages as a normal purchase. The only difference is that most will treat your Right to Buy discount as the deposit so you don't have to provide one.

Therefore all you need is a mortgage for a discharged bankrupt. There are quite a few of these. This, coupled with your age (not meaning to sound rude), is probably a reason to speak to a broker once/if the Right to Acquire is rolled out.