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.
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!!!
Would you beable to get a mortgage again
Posted - 20 April 2009 : 09:18:14
