If you’ve fallen behind on mortgage payments, or even had a home repossessed, finding a mortgage again can be quite difficult. But it’s not impossible. You’ll have to rebuild your credit score by paying all bills on time. And you’ll probably need to use a mortgage adviser to apply to a lender that might accept you …
Can I get a mortgage if my house was repossessed? Read More »
It’s likely you’ll have to wait until your bankruptcy is removed from your credit record, which can be six years from the date of your bankruptcy
Use a free online credit report service. You’ll have to provide details about your banking and credit accounts to access your report. Alternatively you can get a FREE trial with Check my File here, Try it FREE for 30 days, then £14.99 a month – cancel online anytime
It’s possible to remortgage with bad credit, especially if your credit problems are quite minor, like a single late payment. As with any other mortgage applicant, you won’t be eligible for some of the better deals available to those with good credit. Interest rates and fees will be higher.
In 2021, the government launched the mortgage guarantee scheme aimed at helping buyers who have only 5-9% deposit. Not all lenders use the scheme. That means you’ll have less to choose from which might make it harder to find a lender that’s both on the scheme and able to lend to people who’ve had credit …
