Mortgage 10 years after bankruptcy and as company directors?

psycrow57

Thank you - unfortunately it seems most lenders will go on last year's SA03 so that people can't just up their salary for a few months. We are axttsoou on a higher salary now than we were last year although our dividends will then be lower. Unfortunately it's likely to be months before we have all our end of year stuff back from the accountant (didn't get everything back until October last year) - I suppose we could try and pay extra for it to be done more quickly but we are in a bit of a rush now. If that doesn't work I think we will have to rent for a while until we have this years return.

psycrow57

Just to update this if anyone else is in this situation...

Our broker has found us a lender. For some companies the bankruptcy was an immediate deal breaker even after 10 years. However, my husband's mobile phone dispute which led to a default has been far more of an issue (it's four years old now). We found one that agreed provided the default is marked as settled so we have to do that, which is fine. In a couple of years when it's off his file we will look to remortgage.

Hope this helps someone else down the line.

The_Real_Cheddar_Bob

amnblog wrote: »

Where do these ideas come from?

my own experience. I assume you disagree.

ACG

rjwr wrote: »

my own experience. I assume you disagree.

I disagree. This post may read a bit a***y, its not supposed to. I am just giving my reasons why I disagree.

I am a broker who specialises in those with bad credit, my first port of call for all cases is the high street. It is easier for me and less work at application stage (although more at research stage).

To give an example, this morning I had a Mortgage offer on a case the client had previously spoken to another (non specialist adverse) broker about. That broker had his case declined on the high street and with an adverse lender, I managed ot get it through with the same high street lender the other broker tried.

Any broker who specialises (theoretically) knows that part of the market better than a general broker. Even if it is using high street lenders. I know which high street lenders accept what adverse as its my job to.

I am a fee charging broker, but I do not think brokers who do not charge go for the lenders with the most commission. Primarily because most lenders pay the same amount of commission and it only starts to make a difference once you get to maybe a £300k Mortgage, but even then it is not enough to risk your license over.