We now have a mortgage!! There is light at the end of the tunnel

Contracts_Engineer

Dear All,

My story below:-

May 2011 went bankrupt
Discharged 1 year later in May 2012.
I this time i used this forum nearly daily to help me clean my credit history and get all my history as "settled" etc. People helped me with numbers and addresses and really bent over backwards to help.

Cant remember exactly but as i was discharged i think i may have paid around £10 to get an official discharge cert or it may have been free written confirmation, not quite sure but i had something.

I applied for a vanquis credit card, i cant remember if it was 6 months into the bankruptcy or as soon as i was discharged. I got refused so i waited 6 months then tried again and i got it.

I still have this to this day (its being cancelled in the next month or two) and i used to put around £100-200 a month on it and pay it all off at the end of the month. Its slowly but surely improved my credit score.

Around may 2015 we went for our mortgage with just shy of a 15% deposit.

We used an all market broker and obviously stated i was an ex bankrupt and my partner had taken out a DRO (Debt Relief Order) in April 2011.

Unbelievably there was a lender that would consider us. When it came to the crunch though the lender was happy with me and my bankruptcy but would not allow my partner on the mortgage due to the DRO.

This meant the mortgage would just be mine but unfortunately i needed another 10 grand for the deposit or i needed to earn around another £5000 a year. I couldn't produce any of this so we didn't get our mortgage.

2 years later we had saved a 15% deposit for our house (which had gone up in value significantly so 15% in 2018 was a lot more the 15% in 2015) and we had all our solicitors fees and broker fees ready.

We went back to the same broker (May 2018) and we had the choice of around 112 mortgages!!!!!!

We completed at the end of July 2018 and our first mortgage payment was in September so we had a month mortgage free!

To anyone who feels like there is no light at the end of the tunnel I can tell you there is. You have to be patient and methodical.

Get your credit files sorted. The link is on this forum and tells you exactly what to do.

When discharged get a credit building credit card and use it wisely, you should of learnt your very very hard lesson.

And just stick with it. Its a long hard journey but you can do it.

If i think of any important info that I have missed then I will come back and edit the post.

Any questions please ask and i will try and answer

atush

Congratulations!


Looking forwards to seeing you on the Savings and pensions forums

LaLaLa34

Congratulations! I'm 32 and only a few months in. My plan after my 12 months is to save up for 5-6 years then get a mortgage. I sometimes think i'm f***d forever so always nice to see this.