Mortgage for discharged bankrupts: how to find a mortgage when you have been bankrupt

There was a time when bankruptcy was associated with traders, but recent figures indicate that it is becoming more of a consumer problem with many people struggling with personal debt due to overspending. Personal IVA (Individual Voluntary Agreement) applications are also on the increase as people try to find a way out of debt.

Despite being on the increase, bankruptcy still carries a stigma and should not be entered into without very careful consideration due to the long-term impact that it has upon other areas of your life, including your mortgage. If you are declared bankrupt, then you will not be able to legally obtain a mortgage.

Once you are discharged from bankruptcy, you can apply for a mortgage. However, many mortgage lenders will inevitably consider you a high risk borrower. At L&C one of our expert advisers can help you consider the options available to you. Remember, no fee is charged for our expert opinion – a great help at a time when every penny counts towards getting back on track.

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