Co-op mortgages

sassybabee33

Does anyone know if they will lend to discharged bankrupts? We have both been discharged for 3 and a half years now.We are looking to buy in the near future.Have looked on their website but cant seem to find any info.

Leon_W

I doubt it.

They are the type of lender who will generally only take the low risk applications. People like Abbey are more flexible but in this present climate they would still want a 20-25% deposit for a discharged bankrupt. What deposit have you got as this will hold the key ? Anything less than 10%-15% I think you'll struggle with any lender.

Regards

sassybabee33

None at the moment.Have been reading about the ownhome scheme, its says you dont need a deposit(unless you can raise one) , 60% on a mortgage with the co op, and 40% loan, through the scheme.

Looks like gonna have to start saving! Im just so frustrated,in a better position than we have ever been,look after our money,budget well, pay out a fortune of £825 per month in rent. Was all up for shared ownership and got the ok for a 100% mortgage a few months back( but didnt go ahead wanted to save for a bit)