What are the chances?

Mark7972

Hi, my father died last week and my mother is disabled and needs care so we are looking at a bigger house with room to accommodate her and wondered what the chances are of getting a mortgage in a few months time. 
My wife and I are currently masters students and will graduate in the next few months with local government jobs lined up paying £30k each.
We own our current house and are mortgage free, there will be £135k available as a deposit on a £270k house.
We were both made bankrupt (sequestrated as we were in Scotland) although these have now dropped off our credit files, I had another bankruptcy (sequestration) in 2005 which again has cleared my files. We both also had a shared ownership property repossessed by Citibank in 1999.

My question is are we likely to be able to obtain a reasonably priced mortgage over 15yrs for 135k or would we be wasting our time? 

K_S

Mark7972 said:

My wife and I are currently masters students and will graduate in the next few months with local government jobs lined up paying £30k each.
We own our current house and are mortgage free, there will be £135k available as a deposit on a £270k house.
We were both made bankrupt (sequestrated as we were in Scotland) although these have now dropped off our credit files, I had another bankruptcy (sequestration) in 2005 which again has cleared my files. We both also had a shared ownership property repossessed by Citibank in 1999.
My question is are we likely to be able to obtain a reasonably priced mortgage over 15yrs for 135k or would we be wasting our time? 

@mark7972 50% LTV, looking to borrow 135k on a 60k joint basic income. The 2 sequestrations and historical repo will eliminate some lenders, but should not (on its own) stop you from getting a mainstream/mainstream-ish rate at 50% LTV. When the time comes, definitely one for a broker to avoid wasting time with lenders that will not consider the profile as described. The term of 15 years will largely depend on your age.