Repossessions expert Moore Blatch has warned that more than 60,000 individuals are running the risk of becoming 'unmortgagable' by declaring themselves bankrupt in 2009.
The firm says it is increasingly seeing repossessions that have been compounded by a cavalier attitude towards credit, and highlighted the popular misconception that it can all be written off through bankruptcy or IVAs. Moore Blatch warns that the mortgage market for bankrupts has changed significantly, and it is unlikely bankruptees will be able to get a mortgage at a decent rate for up to a decade. "Although bankruptcy does not automatically signal that you are unmortgageable, it does leave a very visible scar on your credit history, explains Paul Walshe, head of lending services at Moo...
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