Bankruptcy

In accordance with the Insolvancy Act, bankruptcy occurs when someone owes more money than they can repay.

Once someone is declared bankrupt a supervisor is appointed to receive their earnings. The bankrupt person is then allocated an allowance to live on. Bankruptcy frees the individual from overwhelming debts, allowing them to make a fresh start and peace of mind.

Whilst an individual will be discharged from bankruptcy status after three years, with the outstanding debts being treated as paid, any lenders may treat a future credit application negatively for another fifteen years.

Let us help

If you require a remortgage but are unable to find a lender who will consider your application due to bankruptcy then we can help. Aimed at borrowers who are unable to release the equity in their property, Clean Start Remortgage is an exclusive, market-leading product from The More Group.

To discuss your options with a remortgage expert, and to find out whether a Clean Start Remortgage will be right for you, complete one of our 5 minute enquiry forms.

When considering a remortgage to consolidate other debts, it is worth remembering the Financial Services Authority official warning:

Think carefully before securing debts against your home. Your home may be repossessed if you do not keep up repayments on your mortgage.

What we offer:
Up to 90% Loan to Property Value ratio
Maximum Loan of £500,000
Quick, hassle-free service
All cases considered.