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  • Writer's pictureMatthew Pigrome

Securing a Mortgage After Bankruptcy

If you've experienced bankruptcy in the past, getting a mortgage might seem like an uphill battle. However, it's not impossible.

In this blog, we'll guide you through the process and shed light on what you can expect.

Gaining a Mortgage After Bankruptcy: How to Rebuild Your Financial Future

Lender's Stance on Bankruptcy

Most mainstream lenders are cautious when it comes to applicants with a bankruptcy history. They often require a clean credit record for a specific period, typically six years post-discharge, before considering your application. But don't despair; there are specialised lenders and mortgage products designed for individuals with a bankruptcy history.

The Increased Deposit Requirement

One significant challenge you'll face is the higher deposit requirement. While standard mortgages might only ask for a 5-10% deposit, expect to put down a minimum of 25% or more with a bankruptcy in your history. This larger deposit helps offset the perceived risk associated with your past financial difficulties.

Improving Your Chances

To increase your chances of securing a mortgage after bankruptcy, consider the following:

  1. Rebuild Your Credit: Focus on rebuilding your credit score by paying bills on time, reducing debt, and using credit responsibly.

  2. Show Stable Income: Lenders want to see a stable income. Having a steady job with a consistent income stream can bolster your application.

  3. Save for a Larger Deposit: As mentioned, a larger deposit can significantly improve your chances. Start saving early.

  4. Seek Professional Advice: Consult a mortgage broker like Mortgage321, who specialises in helping individuals with credit challenges. They have access to niche lenders and products tailored to your situation.

  5. Demonstrate Responsible Financial Behaviour: Be prepared to explain the circumstances that led to your bankruptcy and how you've learned from it. Showing responsible financial behaviour since then is crucial.


While securing a mortgage after bankruptcy may be more challenging, it's not impossible. With the right approach, patience, and professional guidance from experts like Mortgage321, you can move closer to your goal of homeownership. Don't let your past define your future; take proactive steps towards a brighter financial outlook.

Ready to rebuild your financial future? Contact us on 01255 440142 or WhatsApp +447851856721 today for expert advice on securing a mortgage after bankruptcy.


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