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Ryan Smuts: Can you still get a mortgage after filing for bankruptcy?

Friday, November 20, 2020




When it comes to mortgage lending, in many circumstances it comes down to deposits/equity and your ability to meet loan affordability criteria, which can be different depending on which lender you approach.

However, another key area of mortgage lending is your character, which covers your overall position as a borrower – including for example, credit history and account conduct. As you can imagine, filing for bankruptcy and reaching an insolvent position for which an individual or entity is unable to repay their debts, is not a good look to a potential creditor.

As far as I understand, financial institutions are unable to lend to bankrupt borrowers, however, once bankruptcy has been discharged and your credit history is clear (several years later from the initial bankruptcy) you can then re-apply for lending under standard criteria.

However, if you have minor issues with credit history, such as small defaults, and bankruptcy has not formally been applied for, there still may be options from a financing perspective to assist with your situation, on the assumption of course that there is the possibility for you to avoid bankruptcy by taking on additional finance.

If you would like more information or arrange a consultation please do not hesitate to email me at ryan@krispedersen.co.nz.



Ryan Smuts 

Ryan is a Key Accounts Manager at Kris Pedersen Mortgages and Insurance as well as a property investor. 





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The Tenancy Practice Service and TPS Credit Control work closely with the Auckland Property Investors' Association. Our vision of bringing helpful resources, documents and high quality services to Auckland Property Investors and Property Managers is shared by APIA, so its a partnership that works well. 

The Auckland Property Investors' Association is a great organisation for those who want access to advice and information from a range of industry experts and partners. 

Mathieu Holt- Managing Director, The Tenancy Practice Service & TPS Credit Control
Through the Association I found the channels and methods to fund the purchase of property I never dreamed about. Grant Brown

All round it has been one of those things Neil and I felt was really worthwhile belonging to. We have learned so much it has just built our confidence in what we are doing.

Janice Bieleski
I read two articles in the monthly magazine that saved me over $5,000. That is my membership fee for the next 26 years and I am sure I will learn a whole lot more! John Duncan
Fantastic organisation. The networking opportunities are brilliant and provide us with information and opportunities that cannot be obtained anywhere else. We learn something new at every meeting and we've been in this game for nearly 20 years. Pauline and Gyanen Kumar

I find the information obtained from various APIA meetings very useful in guiding my own property investment and rental management.  I also enjoy the networking opportunities with like-minded investors.  I am inspired by other investors’ success and find the more experiences and knowledge that I share with others, the more confident I become.  

Thanks to all APIA event organizers and administrators for your brilliant work. 

Stella Shao

I like talking to people and learning from their experience because it gives me the confidence to invest well. I think it is a knowledge thing. I now know I am doing things the right way.

Stephen Weatherall

My APIA membership has become a total success.

Every time I attend a monthly or regional meeting I come away with so many useful and positive tips that have added value to my property investments and management.

Not only that, the website is a great place for practical advice and useful information. It has now evolved into an important resource for my business.

Talk about value for money! The discounts I have been getting at Bunnings when I present my APIA membership card have more than paid for my annual subscription!

Tim Duffett, Plan A Investments Limited