This is a question that we are constantly being asked by clients who are about to be discharged or who have been discharged from Bankruptcy and would like to know going forward when they can either move house or get on the housing ladder. As most clients are aware the majority high street lenders would not help clients normally until they have been discharged for six years, or in some cases never.
We are however pleased to advise you that we can offer you a mortgage the day after discharge at 70% LTV providing that you have a minimum credit score with Experian of 476. The news gets better following each anniversary following discharge with 75% LTV on the first anniversary and 80% LTV following the second anniversary.
The really good news comes following the third anniversary when subject to credit score we can achieve 90/95 % LTV with a high street lender on normal lending terms. This is why following discharge clients should take advice and do all they can to rebuild their credibility, and be very careful with any borrowing that maybe classed as Pay Day Style lending, which will have a very negative impact on your credit score. We are here to help and guide you to the most competitive lender to fit your current credit profile.