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| T O P I C R E V I E W |
| buzz34 |
Posted - 13 March 2008 : 12:17:41
can i get a mortgage whilst bankrupt?
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| 5 L A T E S T R E P L I E S (Newest First) |
| Helpful Advice |
Posted - 18 March 2008 : 13:52:46
Hi pix1,
That is for an undischarged bankrupt, once discharged rates will start to come down and LTV go up, however you will still be seen as adverse for at least two years after which you will fall back into the sub-prime arena where rates will be more sensible, however the mortgage market it changing daily so what is available now will be very different within these time scales
View my Blogs at:
http://HelpfulAdvice.blogs.bankruptcyhelp.org.uk/
Bankruptcy Specialist
England,Jackman & Spacey
WebSite www.ejands.co.uk
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| pix1 |
Posted - 18 March 2008 : 13:38:37
Is that 75% ltv and double digit interest rate a mortgage for a discharged or an UNdischarged bankrupt? |
| Helpful Advice |
Posted - 13 March 2008 : 14:54:36
Hi Paul,
That was quick, They are still available as I have done one recently for an annullment case I am working on, however they will not lend more than 75% LTV and the rate is well into double figures.
Kind Regards,
Brett
View my Blogs at:
http://HelpfulAdvice.blogs.bankruptcyhelp.org.uk/
Bankruptcy Specialist
England,Jackman & Spacey
WebSite www.ejands.co.uk
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| Reviva UK |
Posted - 13 March 2008 : 14:48:26
Hi buzz
further to Brett the mortgage market has changed considerably over the last 9 months . I would not be surprised if it was currently very very difficult.
Paul Johns
Assisted Bankruptcy Specialists
Reviva UK
www.revivauk.com |
| Helpful Advice |
Posted - 13 March 2008 : 14:46:30
Hi Buzz34,
Welcome to the forum,
It is not unheard of to obtain a Mortgage whilst Bankrupt, however they are usually for the purpose of raisng finance to clear your debts to annull your bankruptcy.
If you already own a property your trustee will have placed a restriction against your property so you will need to disscuss with him your plans and motives.
Also the interest rate will be scary you are seen as maximum risk by lenders therefore they will apply a high rate to suit your circumstances.
May I ask why you wish to obtain a mortgage whilst bankrupt?
Kind Regards,
Brett
View my Blogs at:
http://HelpfulAdvice.blogs.bankruptcyhelp.org.uk/
Bankruptcy Specialist
England,Jackman & Spacey
WebSite www.ejands.co.uk
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