Mortgages for ex bankrupts

kayleigh321

Is anyone having any luck with securing a mortgage with a bankruptcy on their file? My credit file is excellent but my husband was made bankrupt in June 16. We were told in January to wait until he had been discharged for 3 years this June and have since spoken to a broker last month who said due to COVID the lenders are now only accepting applications with 6 years discharge and there is only one lender who would be prepared to us but they want a 25% deposit and are charging a hefty interest rate. Just hoping there is some light at the end of the tunnel ☹️

ACG

Assuming no issues in the last 3 years, I reckon there are lenders out there who would consider you at around 2.5% with a 20% deposit. Realistically you are not going to get away with any less deposit than that in the current climate... This assumes you are in England or Wales. If you are in Scotland then the broker is probably right and you are limited to around 7% interest with a 25% deposit. 

kayleigh321

We are in England. There has been no issues or defaults since his bankruptcy. We have a 20% deposit for the house prices we are looking at for the top end, 25% for the lower end. 2.5% would be brilliant compared to the 7.2% interest rate our broker found! I am not prepared to pay such a hefty interest rate 🤯 Do you think its worthwhile trying another broker in this case please? 

ACG

Cant do any harm. 

KAP0365

@kayleigh321 the poster above isn’t allowed to say but you can identify MAs by their signatures on here - they are not allowed to approach you but you can approach them via private message I believe 

homebuyertoday

Hey guys,
    I was bankrupt 01.08.2016 discharged a year later, so slightly more than 3 years now.  Me an my wife who has never been bankrupt and has an excellent credit score just reserved a property a couple of days ago and going through application with Nationwide - DIP was accepted. We are using a HTB scheme. However I had a look into all the reviews here and it seems that most of the people in my situation had a very little luck with Nationwide (Or maybe it's not being shared widely). Which lenders did you use ?  Have you had any luck? 

Cscott139

Nationwide can be ok with ex-bankrupts as long as discharged for at least 3 years as long as there is no history of a repossession.

amnblog

Kayleigh, there are over a dozen lenders that will take 3 year discharged bankrupts including two major lenders who price competitively at 80%LTV