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A range of banks and building societies are providing mortgages to discharged bankrupts.

While many of the smaller lenders offering specialist mortgages are not happy to lend to discharged bankrupts, some of the more prominent lenders are providing generous income multiples and great rates.

Trinity Financial recently arranged a mortgage for a client who was a discharged bankrupt three years ago, and he had a 15% deposit.

Aaron Strutt, product director at Trinity Financial, says: “The lenders generally request that at least three years have passed since the bankruptcy and they have had a clear credit history since. However, one adverse credit bank with higher rates than the high street lenders lends to borrowers who have been discharged for one year.”

“Applicants will be subject to standard lending criteria and provide a credit report showing the Order is discharged. They can also provide a copy of the discharge certificate.”

The number of people who became insolvent in England and Wales in 2017 was 99,196, a 9.4% rise on 2016 and returning to the level observed in 2013 and 2014. There were 59,220 individual voluntary arrangements (IVAs) in 2017, an increase of 19.8% on 2016 and the highest annual level recorded.

Call Trinity Financial on 020 7016 0790 to secure a discharge bankrupt mortgage

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