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Expert advice & support for mortgages with bankruptcy.

Getting a mortgage after bankruptcy can be difficult, but the property ladder is within your reach. Talk to our expert mortgage advisors today.

Your home may be repossessed if you do not keep up repayments on your mortgage. When The Bank Says No is a mortgage broker, and not a lender.

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First Time Buyers

Being a first-time buyer can be scary, especially when you have bad credit. Our specialist mortgage advisors are here to show you the way.

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Looking to get shared ownership mortgages with bad credit? Our mortgage advisors are here to help you secure the right product for your needs

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A County Court Judgement (CCJ) isn’t the end of your mortgage ambitions. Enlist the support of our expert mortgage advisors today.

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Feeling low about your low credit score? The right mortgage for you is just around the corner. Our expert advisors are here to help you find it.

Specialist Guidance for Bankruptcy Mortgage Solutions

Past bankruptcies can make applying for a mortgage an unnerving process. Most high street banks will struggle to understand your situation, and will refuse to lend to you. As a result, you may be feeling frustrated and worried that you will never be able to find your way back onto the property ladder. We’re here to put your fears to bed. Bankruptcy doesn’t have to define your financial life. Our specialist bad credit mortgage advisors have helped many people discharged from bankruptcy achieve the finance they need to buy their home. We take the time to understand your past (monsters and all), then show you what’s possible.


Helping you move on.

Overcoming your fears when looking for a finance after bankruptcy can be difficult, but our specialist low credit score mortgage advisors are here for you. Some banks only deal with straightforward customers, but many will understand that life happens, and mistakes are made – lenders are human too. We work with lenders who will understand your circumstances and look past your historic bankruptcy to see the person you are now. Skeletons in the closet, monsters under the bed – it doesn’t matter to us. We’re here to help you move on from bankruptcy, and move into a home of your own.

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We can support you and help you to make yourself as attractive to banks as possible, ready for your next application!

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Check your credit file.

In order for us to assess your credit history and suitability for different mortgage products, you will need to check your file.

Can I get a mortgage after bankruptcy?

Yes, you really can. If you’ve been bankrupt in the past, it is unlikely you will qualify for a standard mortgage deal with a high street bank. However, there are numerous specialist lenders who may consider your application. You may find that there are limits on the amount you can borrow as a percentage of the property value, and you may need a larger deposit and be charged higher interest rates. Our specialist low credit score mortgage advisors will be able to analyse the market and your behalf and identify suitable deals for your situation. Whatever has happened in the past, it doesn’t have to get in the way of your homeowning dreams.

Turning Your Nightmares Into Dreams

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When you think you’ve hit that brick wall and have all but given up hope of finding mortgage finance, When the Bank Says No are here to turn your ‘No’ into a ‘Yes’. We have access to a range of specialist lenders who are willing to help those that the High Street banks just won’t touch. Get in touch today and see how we can turn your dreams into a reality.

Can I apply for a mortgage within 1 year of bankruptcy?

Unfortunately, on this occasion, you may have to wait. Most lenders will want you to have been discharged from bankruptcy before they will consider your mortgage application, and this only happens after one year. There also may be court conditions which state you should not apply for any new credit in the first year. As with many negative marks on your credit file, the longer ago the incident took place, the better and the more deals available to you.

How long does bankruptcy remain on my credit file?

Bankruptcy will remain on your credit file for 6 years, or until your formally discharged. What’s more, you must declare your bankruptcy whenever you seek to borrow money over £500, and any lender that does let you borrow during this period may charge higher interest rates. This is because you will be viewed as a high-risk customer due to your issues dealing with money in the past. After 6 years though, or after you have been discharged, the mark will be removed from your credit file. With the right advice and support, you can repair your file, and get back on the property ladder after bankruptcy.


How much deposit will I need to buy a house after bankruptcy?

Lenders always look favourably on applications with larger deposits, whatever the specific circumstances. When it comes to bankruptcy, lenders may only consider you if you are able to put down a sizable deposit, however this can vary between lenders. The length of time since you were classed as bankrupt will also be a factor in deposit size. For example, if you were discharged over 3 years ago, there will be far more options available to you than if it was the first year, and you may not need such a big deposit. As ever though, a bigger deposit equals a greater number of mortgage options.

Frequently Asked Questions

Will having bankruptcy make my mortgage interest rate increase?

It is likely you will not qualify for the best deal on the market with bankruptcy in your past. This is because lenders assess overall risk when deciding whether or not to lend money, and may be concerned by your adverse credit history. Higher interest rates protect the lender from the perceived risk you present. However, our specialist mortgage advisors for bankruptcy have plenty of experience finding suitable deals for borrowers with bad credit. Though your interest rates may end up being higher than those from a high street lender, we will scour the market for a deal that is achievable for your situation.

To begin, it is important to understand what bankruptcy is. Bankruptcy is a way for individual to deal with debts they cannot pay. It should be noted that this definition does not apply to businesses or partnerships.

Initial checks may not pick up historic bankruptcy, whilst more detailed checks own the line will. As a result, you may find you get a provisional acceptance that is subsequently revoked once additional evaluations have taken place during underwriting. More than that, busy lenders with backlogs of applications can take a long time to decline applications, giving you false hope that all is going smoothly. It’s unlikely you will be able to hide bankruptcy from a lender, and nor should you – honesty is always the best policy. Being transparent about your adverse credit will protect you from nasty surprises and disappointments when you are half way through the process.

Having bankruptcy in your past when applying for a mortgage is likely to be something you will need to declare to lenders in the future. Some lenders may choose to ignore the event if it is more than 6 years since you were discharged, other lender may outright refuse you. However, it is possible to repair your credit report following bankruptcy and achieve the home of your dreams. Our bad credit mortgage specialists are here to listen to your story and help you access the best deals available in your circumstances. With us, you don’t need to stress; we’ll help you get to the right lender, first.

There are many things you can do to improve your credit score following bankruptcy. Though an unfortunate incident, it doesn’t have to define your finances forever. In the short term, you should order a credit report to check your details are up to date. Then, you might want to consider adding a short statement providing additional information about the circumstances of the bankruptcy. Illnesses, redundancy, or similar mitigating factors may help some lenders look past the incident. You should also ensure you are on the electoral roll. Looking to the future, it’s important to demonstrate that you can manage money and borrow responsibly. Using and repaying credit on time can be a credit way to prove this, although avoid making too many credit applications close together as every hard search can leave a mark on your report.

Use a Mortgage Broker

When seeking a mortgage with bad credit or a bankruptcy on record, the application process can seem like a puzzle. Luckily, brokers such as When the Bank Says No can help support you in an otherwise daunting situation. Brokers allow applicants to access expert advice about their individual situation, making it more likely that you’ll find a lender that suits you. When seeking a mortgage post-bankruptcy, a broker might consider factors such as the quantity of time since the bankruptcy was discharged, how much deposit you are able to pay and a host of other relevant factors. Don’t struggle in darkness, brokers such as When the Bank Says No are on hand to shine a guiding light.

Use a Specialist Lender

As mentioned, high street lenders are often reluctant to grant mortgages to applicants with a bankruptcy on file. Luckily, there are wide array of lenders that specialise in mortgages for those with bad credit or financial challenges on file. Dealing with a specialist mortgage lender offers an applicant peace of mind that they are receiving expert advice. Specialist lenders don’t shy away from applicants with a history of bad credit, instead they try to offer a solution best suited to an applicant’s needs.

Don’t Rush

Firstly, when applying for a mortgage after bankruptcy, it is often worth waiting for the bankruptcy to be removed before approaching lenders. Waiting also allows an applicant time to work on their credit score, which will in turn impact the likelihood of an application being accepted.

Work on Your Credit

If you find yourself hoping to apply for a mortgage in the years following your bankruptcy, rebuilding your credit score should be at the top of your priority list. On the journey to securing your dream home, working on your credit lays strong foundations. Improving your credit score can be achieved in a variety of ways. These include: 

  • Registering for the electoral roll.
  • Making sure bills are always paid on time.
  • Limiting credit applications.
  • Avoiding any kind of payday loan.
  • Catching up on any past debts.

Check Your Eligibility

Before applying for a mortgage, it is important to assess your eligibility relative to a lender’s criteria. Different lenders will have different criteria that applicants must meet, so it’s best to do your research. When applying for a mortgage after bankruptcy, it is especially important to understand what a lender is looking for. When moving on from a bankruptcy, the requirements laid out by a lender are likely to be different; they might include criteria relating to how much time needs to have passed, or the condition of your subsequent credit record.

Offer a Larger Deposit

When it comes to applying for a mortgage with any kind of credit issue, your deposit is an invaluable piece of puzzle. Where deposits are concerned, bigger is always better. Having a larger deposit lowers your perceived risk, and it can also offer you access to more lenders with better rates.

Expect to Pay Higher Interest Rates 

In addition to planning for your mortgage application, it is wise to consider what comes after securing an agreement. For those with a previous bankruptcy on file, it is likely that they will be required to pay a higher interest rate – especially at first. Lenders often charge increased rates to customers they consider to be ‘high risk’, so it’s important to prepare for this.

  • An individual is unable to pay the debts they owe – in this case, an individual has the option to declare themselves bankrupt for a fee. It is however recommended that an individual seeks professional advice before doing this.
  • A creditor can apply to make an individual bankrupt if the individual owes them £5000 or more.

In What Situations Can Someone Be Made Bankrupt?

Bankruptcy is a significant and scary incident in anyone’s life, and it can make the mortgage application process more difficult. Though some lenders won’t consider you with this mark on your credit file, we have years of experience connecting discharged bankrupts to those who will. We know that people change and learn from past mistakes. That’s why we’re committed to helping people in a range of circumstances get on the property latter in spite of the past. We’ll take the time to understand your credit history, provide non-judgemental support and guidance, and seek out the most appropriate deals for you.

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