Tens of thousands 'unmortgageable', experts warn

The repossessions experts says it is increasingly seeing repossessions that were compounded by a "cavalier" attitude towards credit, and highlights the popular misconception it can be written off through bankruptcy or IVAs. Moore Blatch warns the mortgage market for bankrupts has changed significantly, adding 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," says Paul Walshe, head of lending services at Mo...