Your browser isn't supported
It looks like you're using an old web browser. To get the most out of the site and to ensure guides display correctly, we suggest upgrading your browser now. Download the latest:

Welcome to the MSE Forums

We're home to a fantastic community of MoneySavers but anyone can post. Please exercise caution & report spam, illegal, offensive or libellous posts/messages: click "report" or email forumteam@.

    • loveday10
    • By loveday10 14th Jun 17, 11:19 AM
    • 1Posts
    • 0Thanks
    Mortgage application with discharged partner
    • #1
    • 14th Jun 17, 11:19 AM
    Mortgage application with discharged partner 14th Jun 17 at 11:19 AM
    Hey guys,

    I have a question that I'm hoping someone will be able to give me some advice / direction on. I've searched across this forum and Google, and haven't been able to find a similar situation to this.

    Myself and my partner are in the process of buying a house, we have a large deposit and a need a mortgage of around 125,000.

    In terms of affordability, both our wages combined means the maximum we'd be able to mortgage is 250,000, so we are well in the bracket of being able to afford repayments.

    We're assuming this may be an issue, but my partner registered as bankrupt 4 years ago, and was discharged 3 years ago.

    We received a mortgage accepted in principle from Barclays, but obviously they're yet to know the situation we are in.

    Will this cause some issues? Or is affordability seen as a strength over a credit problem 4 years ago.

    Many thanks!
Page 1
    • mwarby
    • By mwarby 14th Jun 17, 7:17 PM
    • 828 Posts
    • 309 Thanks
    • #2
    • 14th Jun 17, 7:17 PM
    • #2
    • 14th Jun 17, 7:17 PM
    I'm pretty sure Barclay's is 100% no, unless bankruptcy is over 6 years old.can you meet the yourself ?
  • National Debtline
    • #3
    • 15th Jun 17, 11:05 AM
    • #3
    • 15th Jun 17, 11:05 AM
    Hi loveday10

    Welcome to MSE. Bankruptcy is very often an issue when taking out a mortgage. Some applications will ask if someone has ever been made bankrupt, so even where the bankruptcy is over 6 years old and no longer on the credit report, it can still be an issue. Your partner will have another 2 years until the bankruptcy drops off their credit report.

    I would suggest it may be worth speaking to a mortgage broker who would have more specialist knowledge of the best lenders to try and apply through. Hopefully having a large deposit will stand you in good stead, or as mwarby mentions, you may need to consider if you could manage the mortgage (albeit a smaller one) in your sole name. Good luck!

    We work as money advisers for National Debtline and have specific permission from MSE to post to try to help those in debt. Read more information on National Debtline in MSE's Debt Problems: What to do and where to get help guide. If you find you're struggling with debt and need further help try our online advice tool My Money Steps
Welcome to our new Forum!

Our aim is to save you money quickly and easily. We hope you like it!

Forum Team Contact us

Live Stats

81Posts Today

1,924Users online

Martin's Twitter
  • It's the start of mini MSE's half term. In order to be the best daddy possible, Im stopping work and going off line?

  • RT @shellsince1982: @MartinSLewis thanx to your email I have just saved myself £222 by taking a SIM only deal for £7.50 a month and keeping?

  • Today's Friday twitter poll: An important question, building on yesterday's important discussions: Which is the best bit of the pizza...

  • Follow Martin