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

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 [email protected].