If you have been made bankrupt, you are almost out of options. You have had to declare that you cannot handle your debts anymore and you need some help reorganising your financial life. It's as low as you can get as a borrower, and it's not a good sign for a lender. It says to a lender that you cannot be trusted - but for some lenders it doesn't. Some mortgage lenders, those who lend bankruptcy mortgage products, understand that you may be down on your luck or that your finances spun out of control as a result of something you could not have controlled. And they know you can be a good borrower. That's why they offer bankruptcy mortgage loans. But what is a bankruptcy loan exactly?

A bankruptcy mortgage, simply, is a mortgage created expressly for those who have been declared bankrupt. In the UK there is a mortgage for everyone, even for those who have taken a financial beating. It's a last chance for homeowners who need just that little bit of help and luck to get them back on their feet. A bankruptcy mortgage is a way for those who have been made bankrupt to work their way out.

It's not a competitive mortgage - in fact, a bankruptcy mortgage is just about the least competitive mortgage you will find. There will be no helpful extras; no low fees and the rates will be huge in relation to the prime deals you find on the high street. It will not allow you many options and it will not be forgiving if you miss repayments. A bankruptcy mortgage is the worst mortgage type out there - but it might be all you can get.

Since the credit crunch has hit, the UK subprime mortgage market, which once flourished, has all but been killed. Up and down the country, lenders of loans like the bankruptcy mortgage have pulled mortgages and have stopped creating tailored made solutions for those who have bad debts. They don't want borrowers with adverse credit histories that say to them that they might lose out, and they have already lost out quite heavily this year as it is. But there are some lenders who will still lend to those who have been declared bankrupt - there are still bankruptcy mortgage deals out there.

But to be sure to find a bankruptcy mortgage, you are going to have to find a good financial adviser. An adviser will help you plot out your financial present and your future, and help you figure out a way to get hold of a bankruptcy mortgage. Most lenders who still lend these highly risky products will only go through advisers to sell the loans as they know the importance of professional advice when it comes to a bankruptcy mortgage. The more you, as an indebted borrower, listen to professionals and do exactly as they say, the more chance you have of surviving your bankruptcy and keeping your home.