will I face a lot of problems getting a mortgage

[ckc]

After I had to declare myself bankrupt I left the UK and went to work in the Middle East. My sole assets in the UK are 50% of a house I owned with my expartner. She is now fighting for a bigger share of this with the trustees. I am making decent money in the ME but want to know if even this will be a help when I return to the UK and want to get a mortgage. My b/r lasts until next June unless I get hit with a BRO. If I return within 5 years will I face a lot of problems getting a mortgage even with a sizeable deposit?

[mikebdomain]

Hi ckc and welcome to the forum, you will not be able to obtain a mortgage until your bankruptcy is discharged and you will be able to obtain a much better rate after you have been discharged for more than one year, you could get a mortgage during your first year, but the rate will be loaded. You would also get a better rate if you could show 12 months UK earnings in the twelve months prior to your mortgage application.

I am confused about your 50% equity in your existing property, surely this belongs to the OR?


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[MelanieGiles]

The poster no longer has an interest in the original property, as Mike rightly says it vest in the Trustee.

Regards, Melanie Giles, Insolvency Practitioner for over 20 years.

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