Bankruptcy and mortgages

kingstreet

Deleted_User wrote: »

Which would imply that your credit rating is decent enough to get an AIP but get knocked out on criteria

On a quick scan of lenders I us3, I would guesstimate around 25+ that would look at a bankruptcy discharged 5 years ago.
How many lenders does your broker have access to?

The OP has several threads open on his mortgage, so it may be sensible to see them all to get the bigger picture before forming any plan.

[Deleted User]

Tbh I'm not here touting for business. I've got enough to keep me happy but not too much to stress me out at the moment.
All I'm saying is that a 5year old bankruptcy shouldn't be the only thing declining a mortgage and if op has been told that then it seems a bit off
I haven't reviewed any other the other threads but I stand by my initial thought that it's not a 5yr old bankruptcy that's declining this. It's either a broker going to the wrong lender, or something else not mentioned in this thread

kingstreet

Not the way it was meant, sorry for the misunderstanding.

I've long advocated for one "case, one thread" on here when it comes to one purchase, or one mortgage application and in the OP's case the unfolding story would have been easier to follow on one thread, rather than five...!

ACG

The natwest customer only online DIP does not do a credit check - hence the pass I am assuming.

We (brokers) can not name lenders on here as we are basing it on limited information. You need to get your reports infront of an experienced broker.

scholesfan88

The Natwest DIP does a soft credit search

arcon5

Yes it does, they do a soft search and a self declaration question about bankruptcy.


The bankruptcy itself is no longer on my file but obviously might show up on other searches they do and their policy is 6 years from discharge

ACG

Looks like it has changed, it never used to do any credit check.

[Deleted User]

I think it's now that they don't tend to credit check in branch. From what I hear, they are reluctant to book appt with a mortgage advisor until you find a house. Instead get an 'aip' from a customer advisor that is essentially an affordability calculation

kingstreet

arcon5 wrote: »

Yes it does, they do a soft search and a self declaration question about bankruptcy.


The bankruptcy itself is no longer on my file but obviously might show up on other searches they do and their policy is 6 years from discharge

The insolvency search is done by your solicitor close to the end of the conveyancing process.

[Deleted User]

Saw the other thread on "adversemoney". I can't find anything about fees but I'd imagine a site trading like that will charge a fair whack for the advise.

I'd just to go L&C and stick in that you've had a bankruptcy and the details (it does ask for it, as I've part filled my app). They can definitely access relevant lenders. There is also a box at the end for notes.

I don't think they do AIPs until they're ready to submit a full app for you, but from what I've seen of them they're certainly experienced enough in adverse for them to make a reasonable lender selection.

If you don't have adverse since bankruptcy, and your credit file was cleaned up properly it won't be an issue, on it's own.

I saw a comment about "moving to the other end of the country" on one of your threads? That's definitely something to elaborate on with a broker - proving you have stable income will likely be the biggest hurdle IMO.