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Can I Get a Mortgage After Bankruptcy?

How Long Will I Need to Wait?

How Can Friends Capital Help with Mortgages After Bankruptcy?

Mortgage After Bankruptcy

Bankruptcy is considered one of the more severe forms of bad credit. Securing a mortgage after bankruptcy is difficult, however, with the right advice, it may be possible to secure the perfect mortgage.

Friends Capital have existing relationships with lenders of bad credit mortgages. We can help you find the best mortgage deal. We will review your personal circumstances and then search the entire market to ensure you get the best mortgage rates possible. We will then deal with all the paperwork, submit your mortgage application, liaise with your mortgage lender and solicitor, and ensure that your mortgage application is completed as quickly as possible. We can: 

  • Save you money on your mortgage deal 
  • Offer a free consultation 
  • Offer unbiased financial advice 
  • Save you time in your mortgage application 
  • Give you a dedicated account manager who is available to you through the process 

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Can I Get a Mortgage After Bankruptcy?

Yes it is indeed possible to get a mortgage after a bankruptcy. Whilst bankruptcy can cause real problems with many mortgage providers, mortgage brokers are experts at dealing with mortgages after bankruptcy. It may be possible to get either a conventional mortgage, a buy-to-let mortgage, a second charge mortgage or a bad credit remortgage with a bankruptcy on your file, under the right circumstances. 

Before applying for a bad credit mortgage it’s best to:  

  • Check your credit score: Checking what you credit issues are will save time. You can check your credit score here. 
  • Raise as much deposit as possible: It’s a good idea to raise as much extra deposit as you can as putting down extra can offset some of the risk involved in the deal. 
  • Seek unbiased advice: If you contact an independent mortgage broker, they will give honest and tailored advice on your situation. Most give free consultations, like Friends Capital do. 
  • Avoid multiple searches: Making multiple applications online or approaching a mainstream bank for a bad credit loan comes with the risk of being turned away. And hard searches will affect your credit score. 

How Long Will I Need to Wait?

You cannot apply for any type of credit including a mortgage until your bankruptcy has been discharged. This will usually take around 12 months. In terms of offering mortgages for discharged bankrupts, each individual lender will have its own set of criteria. Some lenders will consider applicants immediately after discharge but it is important to note that their criteria will be strict, you will need to have a sizeable deposit and the rates and fees will be markedly higher than those for other mortgage products. 

How Can Friends Capital Help with Mortgages After Bankruptcy?

Friends Capital have existing relationships with lenders that welcome applicants after bankruptcy. We can search the entire market and get access to the most suitable  deals available. We can: 

  • Find you a lender that specialises in bad credit mortgages 
  • Find you a deal appropriate to your personal circumstance 
  • Offer unbiased financial advice 
  • Give advice on what mortgage lenders will require, including giving you advice on an exit strategy for the mortgage end 
  • Give you a no obligation mortgage quote 
  • Deal with all the paper work, liaise with the lenders and solicitors. We will also make sure the application goes through as quickly as possible 

Two Steps to Contacting Friends Capital 

Step 1 

Either call us, email us or request a call back using our call back submission form. 

Step 2 

One of our friendly advisors will either call you back within 24 hours (usually the same working day), or will take details from you in order to best deal with your situation. 

When you speak with us, we will take a ‘fact find’. At this stage we take basic details about your situation. We will then search the whole of the market and find you the best deal available. 

If you are happy with the deal that we offer, we will then contact the lender for you and get you what is called a ‘decision in principal’. 

If you’re happy with the decision in principal then we will secure this deal for you and deal with the application for you on your behalf. 

We aim to get the lowest mortgage rates on the market

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