How long after Bankruptcy before I can get a mortgage?

This is a very easy question to answer… The day after you have been discharged.

But that would not make a very good post would it? It also does not provide any additional information which would be relevant. Lets dig into it a little more…

How much deposit do I need for a Mortgage after Bankruptcy?

This is a little more like it. If you have been discharged for a day, you are not going to get a mortgage with a 5% deposit.

The general rule of thumb is:

Under 3 years discharged and you are going to need somewhere between 30-40% deposit. There are a couple of lenders who dip in and out with 25% deposit, but it is difficult to say for sure whether those would be available when you are looking – but this is why we always say it is worth getting in touch to have a chat. We can take a look at your situation at the time and what lenders and products are available.

3-6 years discharged and everything starts to become much closer to a non bankruptcy applicant in terms of deposit. You can get away with as little as 5% deposit. But a lot will depend on who was involved in the bankruptcy and how your credit report looks. Clearly there are going to be a few red markers on there. That is not something to worry about too much. The lenders who accept bankrutpcies once discharged for 3 years are expecting there to be negative markers. But the devil is in the detail, as above get in touch to discuss your circumstances.

What rates are available if I have been bankrupt?

This is the other big question. When I have made similar posts in the past, I have given examples of rates. However because rates are up and down like a yo-yo at the moment it is difficult to do that.

But lets look at the general rules of thumb again… If you have been discharged from bankruptcy for less than 3 years, your options are limited. This means you are likely to be paying a higher rate despite the big deposit. As a ballpark you are looking at rates of around 3% higher than the high street.

Once you hit the 3 years discharged anniversary you can then potentially start to look at normal rates to around 3% above the high street. Again, the devil is in the detail if we can get you on the high street it will be normal rates. If we have to look at the more specialise lenders you might be looking at half to 1% above the high street. If we have to go to the adverse lenders however, then you are probably going to be seeing the rates of around 3% more.


It is worth having a conversation. The market is always changing and it really does depend on who was involved in the bankruptcy and how many markers are on your credit report. If you had no debt and it was a debt from the tax man for example, you credit report will look very clean.

If you had 5 credit cards, 2 loans and a car lease – it is going to look very different. Both can potentially be overcome, but we just need to understand the situation. We can then try and advise you of your options.