Finding a mortgage with a poor credit history is difficult and has to be approached very carefully because of the shortage of lenders available in this market. Having the advice of a qualified Poor Credit Mortgage Broker will greatly enhance your chances. With only a few sub prime lenders to choose from, getting it right first time is very important.

Steven Neale – Specialist Bad Credit Mortgage Broker

Our experience as first time buyers was simply exceptional! We have been guided through the mortgage process and buying our first home has been an easy journey thanks to your professionalism and efficiency.

Esrskine&Machaj
13th Jan 2022

After thinking I was going to lose the new home I had fallen in love with, Steven worked hard with me and understood my circumstances. I was at the point of nearly giving up and within 4 weeks I had a full mortgage offer. Thank you for making my dreams come true. I would highly recommend your services. Absolutely no bull or jargon.

T Jones
10th Jan 2022

The service we have received has been amazing. We were kept up to date every step of the way. Honestly, the relief on my face when I received your email with the mortgage offer was priceless. I can not thank you both enough you are both amazing at what you do. We can not thank you enough for everything, Thank you so much, you have made our dreams a reality.

Foster
4th Nov 2021

Thank you foremost for choosing to specialise in adverse credit services for people. All we read online is that it is not possible or easy to get any form of credit when you have or settle an IVA and I’m so glad I kept looking and found you. You have helped us more than you’ll ever realise. We are so happy to have a chance to start again and be able to remain on the property ladder, all thanks to you.

Daw
1st Nov 2021

SN Mortgages gave me a chance when no other brokers would. They listened and empathised with my situation. Advised me accordingly and supported me throughout my journey. Highly recommend.

Dye
11th Oct 2021

Steven & Sue have been absolutely amazing through the whole process – extremely calm, organised and helpful. We will definitely be using them in the future and would highly recommend them to family & friends.

Harden
20th Sept 2021

Steve and Sue have been absolutely amazing. I was really worried about my financial history meaning I wouldn’t be able to get a mortgage but they were nothing but supportive and non-judgemental, always available to explain things and answer questions as well as extremely efficient.

Mulready
18th Jan 2022

Steve and Sue were very professional and provided an excellent service. Great communication throughout keeping you up to date at all times. Overall a smooth process, would highly recommend.

Robinson
24th Aug 2021

Struggling to ‘get back’ on the housing ladder after 15 years and being ‘self-employed’ was proving near enough impossible, until we found Steve & Sue. They found us a lender that would use my ‘day-rate’ rather than the usual ‘self-assessment’ and even though there was stumbling blocks along the way, they get us over the line with a ‘mortgage offer’! We can’t thank them enough and would definitely have no hesitation in using them again!

Day
28th July 2021

A fantastic service provided by SN Mortgages once again. Highly recommend SN Mortgages, they have been brilliant at finding the best rates for us, keeping in regular communication and quite frankly achieving the impossible! Where other brokers fail to come back to us or could not find a deal, SN would always go the extra mile and revert back. Thank you so much!

Patel
22nd July 2021

We are so grateful to Sue and Steve for all their effort in helping us get our mortgage. Their knowledge and clear love of their job shines through and they have been on hand to answer all our questions no matter how silly or small. They have clearly explained everything from start to finish which has made us feel so much more at ease throughout the whole process. We can’t recommend them enough!

Young
1st July 2021

Mortgage after bankruptcy

Can I get a mortgage after bankruptcy?

Going bankrupt is often thought of as the most severe credit issue one can have on their file, and they wouldn’t be far wrong. Getting a mortgage after bankruptcy can therefore seem out of reach for most people, and for most lenders, they would be right. However, I work with a range of specialist adverse mortgage lenders who can offer mortgages to those who have been made bankrupt.

Many people I speak to are delighted to find that after talking to me they qualify for a mortgage having been made Bankrupt as they assumed they would have to wait 6 years until it no longer appears on their credit file .

Does my bankruptcy need to be discharged to get a mortgage?

In short, yes – you can get a mortgage the day after you have been discharged though!

The saying time is a great healer is never truer than when applied to getting a mortgage after bankruptcy. If you have an adverse credit history, the longer the period from when you were discharged from Bankruptcy, the better your chances are of getting a mortgage and being able to borrow more.

So how much can I borrow?

That depends on how long you have been discharged but firstly, you cannot have a mortgage if you are still a Bankrupt – you must be discharged, or have it annulled.

Detailed below are the loan to value limits for how much you could borrow from the date you are discharged.

70% – the day after you are discharged

75% – discharged for 1 year

80% – discharged for 2 years

90% possibly 95% – discharged after 4, 5 or 6 years

Key things to consider when getting a mortgage after bankruptcy

Property Repossessed in the Bankruptcy

If you had a property repossessed in the Bankruptcy and there was a mortgage shortfall, this will require further investigation by a lender. They would be concerned that if the lender were to find out you were applying for a mortgage, they could ask you to settle any outstanding mortgage. If this is case, please draw the repossession to my attention when we speak.

Bankruptcy Annulled

You can ‘cancel’ a Bankruptcy if you clear the debt within a certain time frame and this has the effect of putting you back in a good position, as though the bankruptcy never happened. For example, you could raise funds from the equity in your home before being made Bankrupt.

How long are you Bankrupt?

Your Bankruptcy should only last for one year after which time, provided you have complied with the T’s & C’s of the Bankruptcy Order, you will be discharged. If you have not complied with the Order, for example not declared assets that could have been used to clear debt or withheld information from the Trustees, this could be extended. If this happens, lenders will take a dim view of this as you will not have been open and honest with your dealings with the Trustees.

Getting a Help To Buy Mortgage after bankruptcy

I know of a lender that would consider you for a bad credit Help to Buy Mortgage up to 75% loan to value if you have been discharged for at least 1 year or another lender to 70% the day after you are Discharged!

If you’re looking for Help to Buy (H2B) or Shared Ownership Mortgage advice after bankruptcy, I can help.

Use a broker for your mortgage after bankruptcy

Going direct for a mortgage after bankruptcy is not advised. A specialist lender will know the strict criteria for those seeking a mortgage after being bankrupt, and it’s key to get the application right the first time. For more information on how I can help you please call me on: 01494 526400 or complete my online enquiry form.

3 REASONS TO ASK ME TO ARRANGE YOUR MORTGAGE

Years of Experience

I specialise in Bad Credit Mortgages for people who have a poor credit history because of any number of reasons.

Choice of Lenders

I am a Whole of Market, Mortgage Broker meaning I can talk to every lender to see about finding you the right mortgage.

Saving You Money

As a specialist Mortgage Broker for over 30 years I have a great deal of experience that will help save you time & money.