Mortgage for Ex Bankrupts who have been discharged for more then 3 years with very competitive rates and 15% deposit.
Mortgage for Ex Bankrupts who have been discharged for more than 3 years with very competitive rates and 15% deposit.
Payam AzadiTo be quiet honest I believe the majority of high street Mortgage Lenders treat discharged bankrupts unfairly when it comes to offering a Mortgage for Ex Bankrupts. The standard position is 6 years after the bankruptcy discharge period before a mortgage is open to you and some lenders, such as Santander, choose never to deal with discharged Bankrupts. In my view the whole point of a bankruptcy is to reset to zero and start again, although I do accept that the contents of some bankruptcies may represent greater warning signs than others to Mortgage Lenders, but this should be used as an excuse to simply processes and tarnish everyone with the same brush. Thankfully some of the Mortgage Lenders I use rise above the easy way out and take a more bespoke approach for Mortgage for Ex Bankrupts.
One thing to make sure is your credit file is reflects events. Ideally individual indiscretions within the bankruptcy should NOT feature but if they do then the settled date should match up with the bankruptcy date and may impact your credit score. Any subsequent issues will severely inhibit your mortgage chances.
I’m delighted to report that one main UK bank now allows intermediaries to introduce mortgages 3 years after discharge. This departure is welcomed as it means the rates for bankrupts are potentially far more competitive than the alternative Specialist Mortgage Lenders which we also have access to. You must not have had a repossession as part of the past bankruptcy and a clean credit profile after being discharged with a good income structure.
Don’t worry if you can’t meet this criteria we have a number of Mortgage Lenders that deal with Mortgage for Ex Bankrupts with different criteria including a lender that will accept application after only 12 months being discharged so it’s always worth giving us a call.
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