Mortgage after bankruptcy

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


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