Bankrupt and Repo - Can we get a mortgage?

Carterme73

Hi,
My husband had a repossession over 10 years ago and bankruptcy 7 years now. He now has an excellent credit score with no debts. I am slowly building up my credit score and am currently fair. He earns £45k a year and I earn £33k but have £15,000 loan. I did stupidly take out a payday loan a year ago.


Would we be able to get a loan since his repo and bankruptcy or what would stop us please?


Any advice very much appreciated.

[Deleted User]

Your credit scores aren't a factor in lending so can be safely ignored.

What you your credit files actually show? Any negatives apart from your PDL?

Carterme73

None on my husbands but mine because of the loan, says a negative is that we rent and also my debt to income ratio.


What do you mean by the credit scores aren't a factor please?

MovingForwards

Credit scores on the files we see are not seen by financial institutions, they have their own algorithm which produces their scores based on various criteria.

Best off posting on the mortgage board as that's where the resident brokers hang out.

BoGoF

Probably best not applying to any lenders he had dealings with before.....especially the repo.

ryanadam06

What kind of loan you wanna get? In case it's a car loan, AutoFinance Canada can help you out regardless of bankruptcy.

foxy-stoat

What did you spend the £15,000 on from the loan? If it was an expensive car then maybe sell it and down value and clear the debt down.