New Mortgage Guides

Other Mortgage Guides

Mortgage Types

Mortgage Tools

Financial Services > Mortgages > Bad Credit Mortgages > Mortgages Following Personal Bankruptcy
Bookmark and Share

Mortgages Following Personal Bankruptcy

Personal bankruptcy can be declared when it is not possible to stay in control of personal debt. It is often a last resort when all other options have been ruled out and it involves the assets and possessions (with some exceptions) of the debtor being converted into cash where possible.

They become property of the Official Receiver in Bankruptcy who is then legally responsible for using the money to pay off any creditors as far as possible.

Bankruptcy does enable the debtor to make a fresh start once the bankruptcy has been discharged but there are restrictions while the order is force and the fact that has been a past bankruptcy will always remain on record.

A property owned by a bankrupt will probably have to be sold and this could be enforced by a Court Order. However, if it is owned in joint names, their partner could offer to buy the bankrupt’s share of the property from the Official Receiver. If there is a partner or dependents living in the property, twelve months’ grace will be allowed for alternative accommodation to be arranged.

It could be easy for some lenders to take advantage of borrowers with past bankruptcies because they know that the loan options are limited. Sometimes these lenders will charge high fees, extensive pre-payment penalties on the home or ask for a fee upfront to process the loan.

However, fair deals on mortgages and re-mortgages are available for those with a history of credit problems or bankruptcies and our specialist mortgage advisers are experienced in finding the right mortgage for anyone in this situation. If you would like us to help you to find the best deal available for you or for help and advice, please use our Mortgage Enquiry Form below and one of our experts will contact you. Alternatively, you can give us a call on .

Receive Mortgage Advice from a Regulated Advisor

Mortgage advice

There is no better time to be seeking suitable mortgage advice from a Regulated mortgage advisor

Submit your details today for an obligation-free chat and a regulated mortgage advisor will call you back to help you find the mortgage that best fits your needs.

We will only provide your details to one regulated advisor.

Your mortgage

 * Help
 * Help
 * Help

About you


Questions marked with * are required

Please be aware that the advisor who contacts you will be a third party advisor who has no connection with us. There is no charge to you for using this service. We are paid by charging your assigned advisor a fee for this service. Any advice or assistance given to you by a third party advisor does not represent our advice or assistance and is not checked or endorsed by us. It is your decision whether or not you act on any advice or assistance you are given.

By clicking “Proceed” you confirm that:

  • You accept our Terms of use and
  • You would like to be contacted by a regulated third party advisor to discuss your needs.

Your home may be repossessed if you do not keep up repayments on your mortgage.

Financial Services Net Limited and other trusted 3rd parties would like to keep you advised via e-mail or telephone of products, services and other exciting offers we think may interest you. Please untick this box if you do not consent to us contacting you for further information.

Bookmark and Share
news news rss
Mortgages News

Mortgage lending slightly up but market remains subdued.

School catchment area is top reason for moving

Typical first-time buyer is now 35 years old

Mortgage lenders

Browse mortgage lender offersMortgage Rates by Lender

  • Browse current mortgage offers from over 90 lenders.

Worried about mortgage repayments?Worried about Mortgage Repayments?

  • Join our petition to Government to bail out burdened individuals, not just banks.

Free mortgage quoteFree Mortgage Quote

Mortgages in Scotland Mortgages in Scotland

Equity releaseEquity Release

  • Unlock equity in your home.

Switching mortgagesSwitching Mortgages

Home reversion plansHome Reversion Plans

Commercial mortgages Commercial Mortgages

  • Commercial property loans
  • Starting a business?

Arrears & CCJs?

  • Remortgages
  • Sub prime mortgages
  • Arrears, CCJs
  • Self certification
  • Debt consolidation

Protect your mortgageProtect Your Mortgage

  • 3 months free mortgage protection cover

Mortgage Newsletter