question category: Bankruptcy

Where can you get a mortgage if your a discharged bankrupt
Submitted on: 28th May 2009 by Non-Member | Total Answers: 1

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Re: Where can you get a mortgage if your a discharged bankrupt

Once you are discharged from bankrupty you can get a mortgage the same way anyone else does - e.g from a bank or a broker.

If the order was made in the last 6 years it will show on your credit file and it is unlikely right now that the high street will be very interested. There is very little sub prime lending going on this year.

I'm sure you understand you'll need a big deposit- at least 15%.

But not I'm not a mortgage advisor.

Anecdotally the best thing to do is to write off for your Equifax and Experian credit reports (cheaper than doing it online) and take them to a mortgage broker - or someone who can search the market for you (i.e. not a high street bank).

I'm saying to take them in paper form so the brokers or advisors can look at them without doing credit checks which will show on your credit file and reduce your score. They can pick an appropriate lender which they think will have a product for you.

They can at least give you proper regulated mortgage advice.

If you need to find a broker in your area click on my name and email me at Debt Advice Foundation.

Submitted on: 29th May 2009 by Darren Member

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