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Getting a mortgage after BR and repossession
movingforward2010
Posts: 1,582 Forumite
Bought a house with 2 family members in 2006, they moved and stopped paying in 2008 leaving me to pay it all. I couldn’t afford it and the house was repossessed by RBS in 2009 and I also went bankrupt in 2009 as I had no choice and discharged in 2010.
the debts included in BR:
RBS mortgage
Santander car finance
Store card from Burtons
Loan from HSBC
Since then I’ve kept a clean credit file and had several credit cards, loans and car finance from high street banks at low interest rates. No debt o/s.
Incidentally I do have full current accounts with Santander and Lloyds, also had car finance, loan and credit cards from Lloyds since discharge.
I have saved the equivalent of a 30% deposit for a house in the region of 170k
annual salary 30k
What are my chances of getting a mortgage? Will I be subject to high interest from subprime lenders?
the debts included in BR:
RBS mortgage
Santander car finance
Store card from Burtons
Loan from HSBC
Since then I’ve kept a clean credit file and had several credit cards, loans and car finance from high street banks at low interest rates. No debt o/s.
Incidentally I do have full current accounts with Santander and Lloyds, also had car finance, loan and credit cards from Lloyds since discharge.
I have saved the equivalent of a 30% deposit for a house in the region of 170k
annual salary 30k
What are my chances of getting a mortgage? Will I be subject to high interest from subprime lenders?
Are there certain lender who won’t touch me?
Has anyone else good any “good news” stories from being in a similar position?
Has anyone else good any “good news” stories from being in a similar position?
0
Comments
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I think you would get a high street or near rate but go with a broker, they will know what terms a lender treats a bankruptee of plus six years, this will save you applying to those whose conditions you don't meet. Read this for a bit more info
Mortgages for bankrupts & discharged bankrupts in 2023 - Mortgageable
"You've been reading SOS when it's just your clock reading 5:05 "1 -
Thank yousammyjammy said:I think you would get a high street or near rate but go with a broker, they will know what terms a lender treats a bankruptee of plus six years, this will save you applying to those whose conditions you don't meet. Read this for a bit more info
Mortgages for bankrupts & discharged bankrupts in 2023 - Mortgageable0 -
I think you will be fine. Its a long time ago, all cleared, good deposit, not run up a load of debt which shows your responsible and unlikely to get bankrupt again.
Im 99% sure you wont have any problems.I am a Mortgage AdviserYou should note that this site doesn't check my status as a mortgage adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.1 -
I probably wouldn't go with RBS or HSBC though. They will probably remember your default and not want to lend.0
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