Can I Get Mortgage After Bankruptcy?

We get a lot of enquiries for advice and info on getting a mortgage after being bankrupt.  Unfortunately, the demand seems to be growing every week in fact and there is a lot of data about the subject online. Not all of this information is up to date and correct, so it’s important that there’s consistent and CORRECT data available to those who need it.

At Yes Mortgage Services Limited we make it our business to educate and assist people in trying to rebuild their lives and their credit after money problems. We do that by providing the most up to date information, working with lenders who have access to special rates and deals that you won’t find via traditional mortgage channels.

You CAN Get Accepted

As scary as bankruptcy is for the person it’s happening to, it’s not the end of the world when it comes obtaining a mortgage. You might be surprised to learn that you can most certainly obtain a mortgage post bankruptcy, even whilst it is still showing on your credit file.The specialist loans we spoke of earlier are designed for people in this very position and if you can prove that your mortgage is going to be affordable to you, then they will consider your situation.

Post Credit Crunch Lending

Over the last few years, mortgage lending has gone through a bit of major upheaval since the days of the dreaded credit crunch. Credit for those with money problems isn’t as freely accessible as it once was, but things have improved massively from even just a few years ago. Specialist lenders are now able to view your application holistically, taking all of your assets and current income into account, rather than just your PAYE income.

The specialist brokers we recommend help people achieve mortgage success with a range of different issues, including Bankruptcy.

Don’t Despair!

The reason why you might have found things difficult if you’ve applied on the high street for a mortgage as the criteria traditional lenders use aren’t conducive to a person with bad credit. Even if you’ve fully recovered from your money problems are doing well, none of this data is accounted for.

If any of the following relates to you, you CAN get accepted:

  • You’ve previously experienced repossession
  • You have 5-15% deposit to put down and you’ve recently had your bankruptcy discharged
  • You’re looking to remortgage post discharge from bankruptcy
  • You’re seeking a buy to let mortgage post bankruptcy discharge

How Long Do I Need to Wait to Apply?

Usually, you’ll need to wait as much as 6 years to be approved for a mortgage, as this is the point at which the mark disappears from your credit file. There are lenders that will consider it within this period, but you will pay a premium to be accepted via the deal you get and the interest that you’ll pay. Also, the more recent your bankruptcy began, the more in terms of deposit percentage that you’re going to have to pay. Frustrating for the borrower, but it’s better than a straight NO.

There are other factors at play of course, so to ensure that you are doing everything you can to improve your chances, we’d recommend reading through our info regarding how to check your credit file or perhaps having a chat with one of our recommended mortgage brokers for more advice.  Click the chat icon to talk to one of the team today or send us an email on [email protected] and one of the team will be in touch.


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We need to be honest with you… Your home may be repossessed if you do not keep up repayments on your mortgage.