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 Mortgage after Bankruptcy
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Paul 50
Starting Member

United Kingdom
28 Posts

Posted - 03 April 2014 :  16:01:25  Show Profile  Reply with Quote
Hi all
My wife and I have been discharged from Bankruptcy for 4 years now and recently tried for a mortgage with a Broker who specialises in mortgages with adverse credit.after explaining that we were both in regular employment had a 25% deposit had managed to achieve a credit score of 999 albeit with the negative factor of Bankruptcy the initial signs for a mortgage were promising.

However we were then asked how much our Bankruptcy was for (350 k) the lender said because the amount was so high we would need a 50% deposit. !!........ No chance !!!!
My question is has anyone had any luck with obtaining a mortgage after Bankruptcy, is it the norm that such a large deposit is required due to the amount of the Bankruptcy ?.

Think my dream of owning my own home again has finally been shattered !!!!


United Kingdom
4590 Posts

Posted - 03 April 2014 :  16:13:08  Show Profile  Reply with Quote

You will need a decent deposit but you could consider Zebra Money or equityonline.co.uk who have both managed to sort mortgages for those post IVA.

The friend in my adversity I shall always cherish most. I can better trust those who helped to relieve the gloom of my dark hours than those who are so ready to enjoy with me the sunshine of my prosperity. – Ulysses S. Grant

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