Bad Credit • First-Time Buyer
Bankruptcy is one of the most serious credit issues, but it doesn’t close the door forever. With the right deposit, clean history, and lender, first-time buyers can still get a mortgage.
Shortcut: Full overview → First-Time Buyer Mortgages with Bad Credit.
What Is Bankruptcy?
- A legal process for those unable to repay debts.
- Usually lasts 12 months, after which you’re discharged.
- Stays on your credit file for 6 years from the start date.
- Some lenders still ask if you’ve ever been bankrupt.
Can First-Time Buyers Get a Mortgage After Bankruptcy?
- Undischarged: No lenders accept.
- Discharged <3 years: Very few options; often declined.
- Discharged 3+ years: Some specialists consider, often with 25–30% deposit.
- 6+ years since start: Drops off file; some lenders allow 5–10% deposit.
In rare cases, if over 2 years discharged and rebuilt credit, some lenders may accept with 5–10% deposit.
How Lenders View Bankruptcy
| Status | Approval Chances |
|---|---|
| Undischarged | Impossible — no lender will accept. |
| Discharged <3 years | Very limited; high deposit needed. |
| Discharged 3–6 years | Some specialists may accept with 25–30% deposit. |
| 6+ years since start | Drops off file; some accept with 5–10% deposit. |
Deposit Requirements
- Standard first-time buyer: 5–10% deposit.
- 3–6 years discharged: 25–30% deposit usually needed.
- 6+ years since start: 5–10% may be accepted if file is clean.
Related: How Much Deposit Do First-Time Buyers Need with Bad Credit?
Case Studies
3 Years Discharged
Sophie was discharged in 2021. By 2024, with 30% deposit and clean credit, she secured a mortgage with a specialist lender.
Over 6 Years
Tom went bankrupt in 2016 and discharged in 2017. By 2023, it had dropped off his file, and he got a 95% mortgage with 5% deposit.
Practical Steps
- Check your credit file and note dates.
- Save bigger deposit if within 6 years.
- If 6+ years old, you may qualify with just 5–10%.
- Keep recent history clean.
- Use a broker — most lenders who accept bankruptcy cases are broker-only.
Check all three credit files in one place
Use our partner link to view your data across agencies. This won’t harm your score.
FAQs – First-Time Buyer Mortgages After Bankruptcy
Can I get a mortgage during bankruptcy?
No — lenders won’t accept until you’re discharged.
Do I need to wait 6 years after bankruptcy?
Not always — some lenders accept after 3 years, though more options open after 6 years.
Can I get a mortgage with just 5% deposit after bankruptcy?
Yes — usually only if it’s 6+ years old and file is clean.
Will high street banks accept me?
No — only specialist lenders will.
Do I need to prove discharge?
Yes — lenders often want your discharge certificate.
Further Reading on First-Time Buyers with Bad Credit
Getting a Mortgage as a First-Time Buyer
Deposit Requirements for First-Time Buyers
Government Schemes for First-Time Buyers
Improve Your Chances of Approval
Finding Lenders with Bad Credit
Mortgages After IVA
Mortgages with a DMP
Mortgages with Defaults
Mortgages After Bankruptcy
Remortgaging with Bad Credit
95% Mortgage Options with Bad Credit
