Can I re-mortgage to raise funds to pay my bankruptcy debts?

A High Street Bank will not lend to someone who is bankrupt.

The vast majority of financial advisors and mortgage brokers will not have access to annulment funds and will have no idea of how to go about resolving the following anomaly that arises where funds need to be raised against a property to pay the bankruptcy debts and costs:

“Catch 22”

• Firstly, mortgage companies will not lend without receipt of a bankruptcy annulment order or certificate of discharge, and

 

• Secondly, the court will not grant an annulment order without first being satisfied that all the debts, costs and expenses of the bankruptcy have been paid or secured in full. A mortgage offer is not sufficient evidence of this

Call us for advice on how to get round this specific problem.

Getting in touch with one of our specialist bankruptcy annulment advisors for free advice is as easy as picking up the phone. Call the Re10 Debt Advice Helpline on free phone 0800 169 1536