Last Updated: 4th December 2025
Going through bankruptcy is a major life event and can have a significant impact on your finances and your credit profile.
However, it does not mean you will never be able to get a mortgage again. With the right guidance and access to specialist lenders, bankruptcy mortgages are possible, especially once you have been discharged and started to rebuild your financial position.
At AIMS NI, we provide independent, whole-of-market mortgage advice for clients across Northern Ireland who have experienced bankruptcy or serious financial difficulties.
Our experienced advisors understand how lenders view bankruptcy and will help you explore realistic options for getting a mortgage after bankruptcy.
Bankruptcy is a formal insolvency procedure used when someone is unable to repay their debts. It is a serious legal status that can last for a set period (usually 12 months until discharge) but may affect your financial profile for much longer. Bankruptcy is recorded on:
It generally remains on your credit report for six years from the date of the bankruptcy order. During this time, many mainstream lenders will see you as a higher-risk borrower. For this reason, they may decline applications from people who are currently bankrupt or recently discharged.
That said, there are specialist lenders who will consider mortgages after bankruptcy, particularly once you are discharged and have started to demonstrate improved money management. AIMS NI’s role is to identify these lenders and help you understand what is realistically achievable.
Yes, it is possible to get a mortgage after bankruptcy, but it will depend on several key factors:
Immediately after discharge, options may be limited and usually involve specialist lenders with stricter criteria and higher deposit requirements.
As more time passes and your credit profile improves, more mortgage options generally become available and interest rates can become more competitive.
AIMS NI will review your individual circumstances and advise you on when and how it is best to apply for bankruptcy mortgages.
Timings are crucial when it comes to applying for a mortgage after bankruptcy. While every lender has its own criteria, typical patterns include:
AIMS NI will help you understand where you sit on this timeline and which lenders are likely to be suitable at each stage.
Your options for bankruptcy mortgages will depend on your circumstances and the time since discharge, but can include:Mortgages Immediately After Discharge : Lenders in this space are limited and will often require:
Interest rates are likely to be higher due to the perceived risk.
Mortgages One to Three Years After Discharge – With each passing year, more lenders may be willing to consider you, particularly if:
Specialist lenders will still be the main source of products at this stage.
Mortgages Four to Six Years After Discharge – As your bankruptcy becomes older and eventually drops off your credit file, many more options can become available. You may:
High Street Lenders vs Specialist Lenders
High street lenders often have strict policies around bankruptcy and may require several years to have passed before they will consider your application. Specialist lenders, however, are specifically set up to work with clients who have adverse credit, including bankruptcy.
AIMS NI has access to both types of lender and will guide you to the most appropriate options based on your current situation.
If you are thinking about applying for bankruptcy mortgages, there are several steps you can take to strengthen your position:
Rebuild your credit history – Use credit carefully and make all payments on time.
Keep debt levels low – Avoid running up high balances on credit cards or loans.
Save a larger deposit – A higher deposit reduces the risk for lenders and improves your chances.
Avoid new adverse credit – No missed payments, defaults or new insolvency entries.
Check your credit file – Ensure all information is accurate and that the bankruptcy is correctly recorded as discharged once applicable.
Maintain stable income – Lenders prefer consistent, demonstrable income, whether employed or self-employed.
Work with a specialist broker – AIMS NI understands which lenders will consider applications after bankruptcy and what they require.
These steps can significantly improve your chances of approval and help you secure a more competitive mortgage over time.
Applicants looking for bankruptcy mortgages will typically need a larger deposit than borrowers with clean credit histories. The exact deposit required will depend on:
Generally, the more recent the bankruptcy, the higher the deposit expected by lenders. Over time, as your credit improves, you may find that deposit requirements become more flexible and align more closely with standard products.
AIMS NI will discuss realistic deposit expectations with you and explain how different deposit levels may affect your mortgage options.
AIMS NI is well placed to support clients seeking bankruptcy mortgages because:
Our aim is to help you move forward after bankruptcy with a realistic, sustainable mortgage solution.
Our process is designed to make things as straightforward as possible:
Free Initial Consultation – We discuss your bankruptcy history, current circumstances and property goals.
Credit Report and Affordability Assessment – We look at your credit files, income and outgoings to build a clear picture of your financial position.
Lender and Product Research – Using our whole-of-market access, we identify suitable bankruptcy mortgage options.
Recommendations and Explanation – We talk you through your options, including rates, terms, requirements and any associated risks.
Application and Documentation – We help you prepare documents, complete forms and submit your application to the chosen lender.
Support Through to Completion– We liaise with the lender, conveyancer and other parties as needed, keeping you updated until the mortgage completes.
Bankruptcy does not have to be the end of your homeownership plans. With expert advice and access to specialist lenders, bankruptcy mortgages can provide a route back onto the property ladder.
At AIMS NI, we are here to help you understand your options, rebuild your borrowing potential and progress towards a suitable mortgage in a responsible and informed way.
Contact AIMS NI today for a free, no-obligation consultation and take the first step towards getting a mortgage after bankruptcy.
You can technically apply once you have been discharged, but your options will be limited at first and may require a higher deposit and specialist lender. As more time passes, particularly after one to three years, more choices usually become available.
Yes, most lenders will expect a larger deposit from applicants who have been bankrupt. The exact amount depends on how recent the bankruptcy is and how your finances look now.
It may be possible, but options are limited and specific criteria must be met. AIMS NI can advise you on whether it is the right time to apply or whether it is better to wait and rebuild further.
Initially, yes, rates are often higher due to increased risk. Over time, as your credit improves and your bankruptcy becomes more historical, you may be able to remortgage to a more competitive rate.
No. Bankruptcy is serious, but it does not permanently exclude you from the mortgage market. With time, improved financial behaviour and the right guidance, many people successfully obtain mortgages after bankruptcy.
Yes, but lenders will look closely at trading history, accounts and current credit behaviour. AIMS NI has experience helping self-employed clients with past bankruptcy secure suitable mortgage solutions.
Disclaimer
A MORTGAGE IS A LOAN SECURED AGAINST YOUR PROPERTY. YOUR PROPERTY MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE OR ANY OTHER DEBT SECURED ON IT.
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