# Success! I got a mortgage 4 1/2 years after being declared bankrupt



## MikeL2007 (27 Sep 2018)

So folks after over 2 years of applying, we got mortgage approval back in July and we'll finally be getting the keys to our new home next week. 

For the doubters out there (@Brendan Burgess being one - couldn't find the quote where we hadn't a hope of getting credit)........I'll be raising a glass in your honour.


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## Jane09 (27 Sep 2018)

Hi mikel2007 
Congrats on getting the mortgage and buying  your house. You must be thrilled that gives us all hope  can you tell us what bank you got it off and if you needed 20% deposit ? 
Thank you


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## Brendan Burgess (27 Sep 2018)

Well done Mike.   It's not often people have a drink in my honour, so do enjoy it. 

Interested in hearing the details Jane asked for as it will help others.

And what date were you declared bankrupt? 

Brendan


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## MikeL2007 (27 Sep 2018)

Thanks folks.  It's been a long road - to give a brief summary on our situation:

Self adjudicated bankrupt in Feb 2014
Discharged in late July 2016

Bank is BOI and they did insist on the 20% deposit alright.  We do get 2% back in cash back though within 45 days of draw-down.

Most important piece of advice I have is never give up and most important of all, ensure your credit report with the ICB is correct!


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## Brendan Burgess (27 Sep 2018)

Hi Mike

That is much earlier than I would have expected. Only 4 1/2 years after being declared bankrupt.   It's great to see Bank of Ireland having such an open mind. 

Did you take the mortgage out on your own or were you a joint borrower?  If so, was your fellow borrower a discharged bankrupt as well? 

Brendan


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## MikeL2007 (27 Sep 2018)

It was a joint mortgage application but the joint applicant was my wife who was also declared bankrupt on the same date.


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## Stuboy (11 Oct 2018)

Hi Mike, great news. I'm also with BOI since bankruptcy, we've found them great to deal with. Myself and wife went bankrupt in January 2015 and exited in July 2016. We were recently given credit (card and car loan) this year. A credit card application was declined by them last year, so they obviously have a system in place internally regarding credit to bankrupts. The next step will be mortgage planning, probably a few years away due to deposit, but great to hear you got one.


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## Ciara Lee (25 Oct 2018)

Can I ask - Did you declare to the banks that you applied to that you were Bankrupt?  Once this dissapears from the ICB report, are you obliged to volunteer this information?


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## MikeL2007 (1 Nov 2018)

Ciara Lee said:


> I am thrilled for you! Great news.  We have just noticed multiple mistakes on our ICB report which is very annoying. Can I ask, did you deal with the banks/lending institutions yourself over the mistakes on your ICB or did the ICB do this for you?  Not sure where to start.
> Appreciate any advice.  Thanks and all the best!



Hi Ciara,

The ICB only report on the data that is sent to them by the banks so you have to deal with each on of the banks directly.

Best way to get them moving is lodge a complaint with the Financial Services Ombudsman!

Mike


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## MikeL2007 (1 Nov 2018)

Ciara Lee said:


> Can I ask - Did you declare to the banks that you applied to that you were Bankrupt?  Once this dissapears from the ICB report, are you obliged to volunteer this information?



Hi again Ciara,

The debt is still listed on our ICB report but we listed it in our initial application that we were both bankrupt.

Best approach when dealing with the banks is to be open and honest.  If you don't disclose information from the outset and they then find it out it heightens the impact of the non-disclosed information.

Mike


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## Carol18 (28 Nov 2018)

Good to read this. 
Looking to apply for a mortgage. Just got my ICB report multiply errors, from 2 separate banks. Declared bankrupt in the UK Jan 2014. KBC still show outstanding balance owed to them...


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## Fresh-Start (6 Feb 2019)

Well done MikeL - I'm off to BOI - fingers crossed


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## Brendan Burgess (29 Jul 2019)

Has anyone else succeeded in getting a mortgage after bankruptcy? 

Brendan


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