Noticed some changes? You can read all about the improvements we've made on the Forum in our latest announcement. We also have a new set of Forum rules so please take the time to give them a read and familiarise yourself.

Mortgage 48 months post bankruptcy

Hello everyone.
I'm soon coming up to being 4 years into my 6 year bankruptcy declare period. 
I've been in very stable employment for over 2 years now and have saved enough for a 20% deposit on a £60k property. I have also been steadily improving my credit score since the bankruptcy with the use of credit cards (Aqua and Capital One) and have no debt as have always paid the balance in full.
I understand it is a general opinion that lenders won't offer mortgages to anyone who is within their 6 year bankruptcy period but after doing copious amounts of research online I have came across different advice where it is suggested after a certain period (namely 48+ months) there are lenders who will treat you the same as anyone else. 
Does anyone know how accurate this information is? Also, is there any way for me to find out I.E get a mortgage in principal without making a formal offer on the above property?

Thanks in advance, any help is really useful. I really despise paying £500 pcm rent to line someone elses pockets when I could be paying just over £200 pcm towards my own property.


  • KeepOnKnittingKeepOnKnitting Forumite
    369 Posts
    Fifth Anniversary 100 Posts Name Dropper
    Sounds like you are in a similar position to me. I just got a mortgage through a broker and am going through the legal buying process now. Good luck. 
    Save £12k in 2021 #11
  • mwarbymwarby Forumite
    2K Posts
    Part of the Furniture 1,000 Posts Name Dropper
    For mortgages the question will likely be more ‘have you ever been bankrupt ?’ So no end to the declare period, yes it goes from credit history but is still public info

    sounds like you need a broker, there are certainly some lenders who consider after 36 months or less. The current financial situation however is likely to make things difficult, lenders are likely to be more risk averse than they were

    The best thing you can do to improve chances is to completely forget your credit score, and the effect credit cards have. Make sure your paying them off in full, and save as hard as you can for a deposit. Literally 1% LTV difference could get you better rates or change a maybe into an acceptance, your at 80% which is good at 75% more options will open up
Sign In or Register to comment.
Latest News and Guides

New plastic £50 note in circulation

Inventor and codebreaker Alan Turing is pictured

MSE News

TV MoneySaving tricks

How to save on Sky, Netflix, Now TV, Prime Video and more

MSE Guides

Pret subscription loophole

Get a month's worth of free smoothies, frappes, coffee etc

MSE Deals