BANKRUPTCY

Getting a mortgage after bankruptcy is not impossible Natural Mortgage Solutions has access to lenders who are willing to offer mortgages to people who have been declared backrupt in the past. Natural Mortgage Solutions may be able to help.

It is important to realise that lending to discharged bankrupts is higher risk for the lenders and as a result the lenders have to take measures to protect themselves. This means that you will generally be charged a higher interest rate as a borrower, or a decreased loan to value (the % of the property value the lender is will to loan), or quite possibly both.

On the up side getting a mortgage is one of the first steps towards rebuilding your credit history and your life. In most instances we have lenders who will need only 12 months of good mortgage repayment history before you qualify for lower interest rates. (N.B Please note that by remortgaging to enjoy the benefits of a new lower rate you may incur early repayment penalties from your new lender. Your Natural Mortgage Solutions consultant will advise and assist you during this process and ensure that this is the most appropriate course of action for you to take.)

 

HOW LONG TO I HAVE TO BE DISCHARGED FOR?

Natural Mortgage Solutions have products available for:

Those who have been discharged for less than 1 year

Those who have been discharged for between 1 – 3 years

Those who have been discharged for more than 3 years.

The longer you have been discharged the more competitive the deals will be that you will qualify for and the less deposit will be required.

THE OVERALL COST FOR COMPARISON IS 7.95% APR

The actual rate will depend on your circumstance. Ask for a personalised illustration. Paying off short term loans and credit cards with a mortgage could cost you more over the long term.

THINK CAREFULLY BEFORE SECURING OTHER DEBTS AGAINST YOUR HOME. YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE.

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ONLINE TRACKING
We will keep you regularly updated and provide you with our ONLINE TRACKING service so that you can monitor the progress of your application 24hrs a day.

YOUR RATE REMINDER
Once your mortgage is up and running we will then provide you with a rate reminder service. This will ensure that when your special rate ends you will know all your options and the best available mortgage rates, to stop you paying lenders standard variable rate. By making the most appropriate choices could save you tens of thousands of pounds over time!