I paid £37,500 for my property 13 years ago but had a bankruptcy of £11,00 due to failed buisness put on 8 years ago and the current value is £120.000 so wanted to change mortage suppliers to get some better deals
2006-11-07 21:42:07 · 4 answers · asked by Anonymous in Business & Finance ➔ Renting & Real Estate
you may have to go to a sub prime lender and pay a slightly higher interest rate.
i would visit a mortgage broker, sit and go through it with them, they will recognise the best deal for you.
2006-11-07 21:45:25 · answer #1 · answered by Helen 4 · 0⤊ 0⤋
It depends if the bankruptcy is against you or just a caution has been lodged against the property. If you have been declared bankrupt you will not be able to get a mortgage until it is cancelled. If it is against your property, these things can be removed by paying them off. There are some mortgage lenders that will lend to people with bad credit but the rates are much higher, you will have to provide a lot of information and you will have to go through a broker. I would suggest that you get in touch with one who can advise you further.
As the bankruptcy was 8 years ago it must now be removable.
What area are you in?
2006-11-08 05:56:12 · answer #2 · answered by kerrykinsmalosevich 3 · 0⤊ 0⤋
There are many mortgage products available, no matter how poor your credit rating is. One company that deals with this is World of Mortgages.
2006-11-08 14:38:18 · answer #3 · answered by simon r 3 · 0⤊ 0⤋
I specialise in this kind of thing. It could be possible, let me know if you need any help.
2006-11-08 05:46:14 · answer #4 · answered by voodoobluesman 5 · 0⤊ 0⤋