Bankruptcy

Bankruptcy

Getting a mortgage after bankruptcy is not impossible and we have put together a panel of specialist lenders who are willing to offer mortgage loans to people who have been declared bankrupt in the past.

It is important to realize, however, that lending to discharged bankrupts is higher risk and as a result the lenders have to take measures to protect themselves. This generally results in higher interest rates for the borrower or a decreased Loan-to-Value (the percentage of the property value the lender is willing to loan), or possibly both.

The plus side is that getting a mortgage is one of the first steps towards rebuilding your credit history and your life, and in some instances we have lenders who will need only 12 months of good mortgage repayment history before you may qualify for lower interest rates. Please note that by remortgaging to enjoy the benefits of a new lower rate you may incur early repayment charges from the lender. Details of these will be given in a personalised illustration.

How Long Do I Have to Be Discharged For?
In most cases we have products available for:

* Those who have been discharged for less than 1 year
* Those who have been discharged between 1 and 3 years
* And those who have been discharged for more than 3 years

Generally speaking the longer you have been discharged, the more competitive the deals will be that you will qualify for and the less deposit will be required of you by the lenders.

If you think that we may be able to help you secure a mortgage then it is time you contacted us to speak to one of our experienced mortgage specialists to get your free no obligation quote.