Mortgage after bankruptcy
DO NOT listen to people who tell you your life ends with
bankruptcy, as they are wrong with a capital W.
Bankruptcy is meant to be a new
beginning, and there are people out there who will treat it as
such, after all, who is more likely to be bitten by a nasty dog,
someone who has never seen a nasty dog, or someone who knows all
too well what the bite of that nasty dog feels like?
Life after bankruptcy is as
hard as you make it, and one of the first things you should set
about doing is re-building your credit rating. You CAN get a
mortgage loan after bankruptcy it is just a case of putting your
case, and going to the right people. It is possible to get a
personal loan after bankruptcy, again it is all about talking to
the right people, and we know who to talk to.
We have access to lenders who
can complete your mortgage almost without delay as soon as you
are discharged, all the work can be done in readiness for this
time, and all they would need would be confirmation of the
bankruptcy discharge to complete the formalities of your
mortgage.
If you are due out of
bankruptcy in the next 6 months or so, then feel free to contact
us to discuss what we can do to help you get your credit rating
sorted out by arranging a loan or mortgage after you are
no longer bankrupt.
Here are some examples of the
schemes available
|
Category
|
Mortgage1
|
Mortgage2
|
Mortgage3
|
| |
|
Product Type
|
discount/ tracker
|
discount
|
discount
|
| |
|
Initial Rate
|
5.37%
|
5.75%
|
5.86%
|
| |
|
Special Rate Period
|
5 months
|
14 months
|
11 months
|
| |
|
Standard Rate
|
6.87%
|
7.50%
|
7.61%
|
| |
|
APR
|
6.90%
|
8.20%
|
7.50%
|
| |
|
Provided by
|
Lender
A |
Lender
B |
Lender
C |
| |
|
Redemption Penalties
|
Some
|
Some
|
Some
|
| |
|
Overpayments
|
No
|
No
|
No
|
| |
|
Underpayments
|
No
|
No
|
No
|
| |
|
Borrow back
overpayments
|
No
|
No
|
No
|
| |
|
Payment Holidays
|
No
|
No
|
No
|
| |
|
Pre Approved Credit
Limit
|
No
|
No
|
No
|
| |
|
Banking Facility
|
No
|
No
|
No
|
| |
|
Upfront Cost
|
£990.00
|
£990.00
|
£990.00
|
| |
|
Initial Monthly
Payment
|
£456.69
|
£473.83
|
£478.85
|
| |
|
Cost of Credit
|
£83,369.12
|
£91,079.81
|
£93,133.55
|
The above figures are a live
search carried out on 13 Dec 03, based on a £75,000 mortgage on
a £100,000 property value. one month after discharge from
bankruptcy. They are used as an illustration only and should not
be considered to form any part of an offer.
For more information either
complete our online enquiry, or telephone us on the telephone
numbers below.
Typical example £75,000 over 20 years = £548.18 per month. Total
amount repayable £131,563.20 6.8% APR Variable |