Starting again...how?

abouttostartagain

Brief history:

I've been bad with money for years and hid it from my H. We have now separated (still friends though)
I now owe in the region of £38k :eek:

Ex and I are just about to sell our house and i will get about £50k equity. I'm hoping to settle my debts for about 50% as the majority of my debt was fees and / or interest.

I now have a new other half and we want to buy somewhere together. I know mortgage companies won't look at me for at least 6 years, but how can I prove that my bad ways are behind me?

I've now got a good job, an other half that earns good money too, so will never get into trouble with money again.

Will mortgage lenders just look at my history and write me off? I've not used my credit cards for over 2 years now (I sorted out a DMP myself) and KNOW I will be good with money again, I never want to go through the stress of debt again.

I'm hoping to have around £30k after I've settled with my debtors - will the bank not look at that as a positive?

I'm just after advice really - I want to move on...

B

lazy&indebt

I'm sorry to say it but banks are being VERY fussy about who they lend money too. People I know with very good credit ratings and no bad credit history are being turned down for simple things like credit cards.

I hope this isn't the case for you. Could you not rent for a while or do part ownership?

RAS

abouttostartagain

Actually, you will find it much harder to get a credit card than to get a mortgage. It is quite possible to mortgage or re-mortgage even when you have been bankrupt, although the rates might be higher initially.

You need to go to a good whole of market broker, who can look at your situation and suggest suitable vehicles. Some of them will review your situation after a year or two and reduce the penalty interest rate if you have clean record.

What you will not get is 100% mortgages etc.