Mortgage after bankruptcy

Mortgage after bankruptcy – there are mortgages available even if you’ve been bankrupt

If you’ve been declared bankrupt, we can start looking at mortgage options available once you’ve been discharged. This usually happens after a bankruptcy term of 12 months. Read more about bankruptcy here

  • Mortgages available even if the bankruptcy is still on your credit report
  • Residential and buy-to-let mortgages
  • Specialist lenders available

Mortgage after bankruptcy FAQ

If you’ve been bankrupt in the past, it’s likely you’ll struggle to find a mortgage with a highstreet lender.

Luckily there are plenty of specialist lenders that will consider applicants who’ve faced bankruptcy, and our brokers at Clever Mortgages could help you access these lenders.

Some specialist lenders might consider your mortgage application immediately after you’re discharged from bankruptcy. Others might prefer you to have been discharged for at least 12 months or for several years.

The main issue facing borrowers is their deposit amount. The more time that has passed since your discharge, the more likely a lender will be to accept you for a higher Loan to Value (LTV) product. If you’ve been discharged bankrupt for a year or less, a lender may need you to supply a deposit of at least 50%. After 2 or 3 years, provided you can prove good money management, this could drop to 25% LTV. When you have been discharged for over 6 years, you could become eligible for 95% mortgages.

Getting a mortgage after bankruptcy can be difficult but not impossible, with many highstreet lenders declining applications with previous bankruptcy. Our specialist brokers and the lenders they work with believe that everyone deserves consideration, and could help you find a mortgage even after bankruptcy.

Some lenders will consider your mortgage application immediately after you’re discharged. Others might require you to have been discharged for at least 12 months, if not for several years. The main issue facing borrowers is their deposit amount. The longer since your discharge, the more likely a lender will be to accept you for a higher Loan to Value (LTV) product.

Getting a mortgage after being made bankrupt is certainly possible, and there are a few things you can do to give yourself the best chance.

Speak to a specialist broker

Speaking to a broker, such as Clever Mortgages who have experience in dealing with mortgages after bankrupcy can help your chances of approval. We have relationships with lenders most likely to say yes.

Save up a large deposit:

The biggest factor in getting a mortgage after being discharged from bankruptcy is the size of your deposit. Your bankruptcy will play a large part in how you are viewed financially and having a larger deposit will help lenders view you as a lower risk, you’re more likely to be accepted for a lower LTV mortgage so saving up a fair portion of the property’s value will help increase your chances for approval.


Having a stable income, or consistent employment in the same field helps boost your application and make you a more attractive borrower. Potential lenders will want to know you have the income needed to afford mortgage repayments.

For free initial advice from our qualified mortgage brokers about a mortgage after bankruptcy, call 0800 197 0504 or click below to request a callback at a time to suit you.

Case Study

Helping one customer buy a new home with a mortgage after bankruptcy  

Mr and Mrs B had seen a property and managed to save a 10% deposit so they could buy it. Mr B had previously been bankrupt and still had outstanding defaults showing on his credit file. At Clever Mortgages we were able to help the couple:

Prove to the lender Mr B’s previous defaults had been paid as part of his bankruptcy Take out a new 90% mortgage so they could use their 10% deposit Secure a mortgage of nearly £65K over 20 years with a fixed rate for the first two years

Bankruptcy years dischargedMaximum loan-to-value (LTV)
Less than a year60%
1 year75%
2 years85%
3 years95% (subject to credit score)
4 years95% (subject to credit score)
5 years95% (subject to credit score)
6 years95% (subject to credit score)

Although Mr B had been discharged from his bankruptcy over three years since wanting to buy the house, there were some defaults on his credit file that were still showing as outstanding. Even though these had been included in the bankruptcy, several lenders had refused his application. We approached a lender which we knew may be able to help and worked with Mr B to gather the information needed to prove the defaults had been paid.

He was relieved to secure his mortgage, buy his home and enjoy moving in with his family.

New Mortgage£63,900£362.863.09% 2 year fixed rate20 years

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6 Great reasons to choose Clever Mortgages

Specialists in bad credit

Every member of our team is trained in bad credit situations and know how to find the right solutions for customers – helping them get the mortgage that’ll get them back on track.

Over 100 lenders

The number and quality of lenders we work with means we have access to a diverse spectrum of best-rate deals. The lenders we use means we have all areas covered – even for those in particularly niche circumstances.

Not every case is the same

As each customer’s situation is unique, we take the time to understand your situation, and we carefully assess your goals and how we’ll make sure the mortgage we get helps you to achieve them.

Access To Exclusive Rates

The relationship we have with our lenders means we have access to products and deals that simply aren’t available to customers going direct. This is true particularly for those in adverse credit situations.

Offering the best support

We know that buying or moving house and getting a mortgage is stressful, so we do our upmost to make the process as hassle-free as possible. We’re there for you at every step, always keeping you in the loop.

Excellent Reviews

We’re proud of our long-standing 5 Star Rating on Trustpilot, and love all the positive feedback we get from customers every day. We feel privileged to help people get a great deal with far less stress.

Why use a mortgage broker?

Mortgage brokers can help you find the best deals on the market – not just from one lender. With a broker you’ll get:

  • Valuable knowledge, through years of experience helping customers to find mortgages
  • An improved chance at finding a mortgage, some mortgages are only available through a broker
  • Help with the application process, as usually just one application can be used across various lenders
  • Advice on how to improve your chances, for instance getting a guarantor or applying for a joint mortgage

About Clever Mortgages

We specialise in assessing an individual’s situation, and finding the right mortgage solution for them. We can help:

  • With remortgages, buy-to-let, and first-time buyers mortgages. We have experts who cover these areas
  • Even if you’ve got bad credit – we help people every day with a variety of credit histories to find the right mortgage
  • With applications, as we’ll take the hassle away. We require your details once and we’ll know the best lenders for your circumstance
  • Our team know the lenders that are most likely to say ‘yes’, and give you the best rates

What should I do next?

  • You enquire online with us today or request a call back
    Our simple form takes a couple of minutes to fill in, this gets the ball rolling
  • One of our experts will give you a call to find out more about your situation
    We have experts in remortgaging, who focus solely on helping customers save money
  • We do all the hard work for you
    We search the market for the trusted lender that’s right for you
  • Our expert will get back in touch
    We can guide you every step of the way, and we’ll always keep you up-to-date with progress
Meet the team

Sarah Blount

Having over 15 years in financial services Sarah ensure our clients stay fully informed on the progress of their applications and supports until the day they complete

Call us on: 0800 197 0504

Below are some of the lenders we work with