Bankruptcy is a legal process where your assets are used to repay debts you cannot afford. After discharge (usually 1 year), you can apply for a mortgage, though most specialist lenders require a 15–25% deposit. After 6 years, bankruptcy drops off your credit file entirely.
Mortgage After Bankruptcy — Timeline
| Stage | Deposit | Options |
|---|---|---|
| During bankruptcy | N/A | Cannot apply |
| 1–3 years after discharge | 20–25% | Limited specialist |
| 3–6 years after discharge | 15–20% | More specialist lenders |
| 6+ years (off credit file) | 5–10% | Most mainstream lenders |
Rebuilding Your Credit After Bankruptcy
To improve your chances of getting a mortgage after bankruptcy:
- Register on the electoral roll immediately after discharge
- Get a credit builder card and use it responsibly
- Keep all bills and direct debits up to date
- Save the largest deposit you can
- Check your credit file for errors with all 3 agencies
Read our full guide: How to Improve Your Credit Score for a Mortgage.
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Frequently Asked Questions
- How long after bankruptcy can I get a mortgage?
- Typically 1 year after discharge at the earliest with a specialist lender. More options open up after 3 years, with full mainstream access after 6 years.
- Can I get a mortgage during bankruptcy?
- No — during an active bankruptcy (usually 12 months) you cannot obtain credit of £500 or more without disclosing your status to the lender.
- What deposit do I need after bankruptcy?
- Typically 15–25% in the first 3 years after discharge. After 6 years, standard deposit requirements (5–10%) apply.
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