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T O P I C R E V I E W
aba
Posted - 20 April 2009 : 09:18:14 Would you beable to get a mortgage again in the future if you hand the keys in ?
2 L A T E S T R E P L I E S (Newest First)
chester2005
Posted - 20 April 2009 : 13:15:52 In theory after you are discharged you will be able to get a mortgage. In practice this may involve you having a deposit in the region of 30% In the current financial situation banks are looking for safer bets and if you can provide 30% or more you are a reasonably safe bet!!! after 6 years BR will be of your credit files so you will be back on a reasonably even playing field. A friend of mine got a 100% mortgage a couple of years ago 6 years after BR Another friend got a 70% mortgage 4 years after BR
Dave
Don't worry or know that worrying is as effective as trying to solve an algebra equation by chewing bubble gum.(Baz Lurman) Life's too short!!!
gettingoutofdebt
Posted - 20 April 2009 : 09:29:57 Your credit rating will be very poor for 6 years so it would be very difficult to get a mortgage in that period. Even after the 6 years you would probably need quite a high deposit and would still have to pay a higher than normal interest rate on the mortgage but it is possible to get a mortgage after bankruptcy.
If you have a partner that has not been declared BR then you could always put everything in their name.
