How You Can Get A Mortgage Loan After Bankruptcy
When you have been through bankruptcy proceedings, you may wonder if you will ever be able to get a mortgage loan after bankruptcy. It’s true that it used to be difficult. Once upon a time getting a mortgage loan after bankruptcy could only be done if you went to a few specialist lenders and they could be hard to find. These days it’s much easier. Thanks to the internet and the growing interest in a mortgage loan after bankruptcy there is no difficulty in sourcing such a loan. In fact, recent research from the Council of Mortgage Lenders (CML) suggests that there are 30 lenders who can provide a mortgage loan after bankruptcy. Each of those lenders has dozens of deals, with the CML estimating that there are a couple of thousand deals for people wanting a mortgage loan after bankruptcy 6/10/06.
So that’s the context for a mortgage loan after bankruptcy, but what about the nitty gritty? How do you actually go about finding such a mortgage for poor credit? Bankruptcy is one of the most serious of the adverse credit circumstances, and it’s one that will stay on your credit record for six years, so there’s no escaping its influence on your credit profile. But there are many lenders who specialise in lending to people who need a mortgage loan after bankruptcy so there’s plenty of choice.
Many people look on the internet for financial products now, which is one of the reasons why many financial advisers and mortgage brokers now have a strong web presence. Most of the lenders have websites which will provide information to those seeking a mortgage loan after bankruptcy. That’s a good starting point, but it may not enough to get you a mortgage loan after bankruptcy. That’s because many of the lenders who provide a mortgage loan after bankruptcy only offer their products through intermediaries such as brokers. That means that although you may find some details of the adverse mortgage loans, the information may not be enough for you to make an informed decision.
Going For Broke With Adverse Credit
For that, you may need to approach a broker when you are ready for your mortgage loan after bankruptcy. That’s because most brokers will have access to a range of deals from panels or lenders or the whole of the adverse credit loan market. They will also know the latest offers from mortgage lenders who specialise in bad credit loans. So a specialise mortgage broker is often your best bet for a mortgage loan after bankruptcy.
As with any other broker, you will need to provide full details of your adverse credit circumstances as well as any proof of income that may be required. Many specialist lenders also provide self certification mortgages, so income details will not be needed in every case. Once you have given the broker the required information, the broker can search the deals for the best match with your circumstances. And even if you have any other adverse credit circumstances, you should still qualify for a mortgage loan after bankruptcy.