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Discharged bankrupts& mortgages
sassybabee33
Posts: 24 Forumite
We both went bankrupt in 2004,discharged in Jan 2005. Are we now unlikely to find anyone to provide us with a mortgage because of our history?
Was looking into shared ownership last year and we quoted for a 100% mortgage (obviously they have all been withdrawn).We would still like to go ahead with shared ownership or one of the other schemes,will no one be able to offer a mortgage to us?
Was looking into shared ownership last year and we quoted for a 100% mortgage (obviously they have all been withdrawn).We would still like to go ahead with shared ownership or one of the other schemes,will no one be able to offer a mortgage to us?
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Comments
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Last time I looked at SO schemes, I think preferred were the only people to consider adverse clients on SO schemes.
Their current criteria requires 3 years after discharge and that will be 9.69% on 100% share or 9.29% on 95% share. That is very very expensive considering that you will have rent to pay on the the bit you do not own either.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.0 -
Yeah they are shocking - I just had someone adverse looking at SO, so preferred came to my head as the only possibility, but the damn housing association will not accept them as a lender! So that was a very short answer to give
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