Can I get a mortgage if my house was repossessed?

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 – despite having a past repossession.

Can I remortgage with bad credit?

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 the best deals. Interest rates and fees will be higher.

Can I get a 95% mortgage with bad credit?

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 problems.

But the lenders that are on the scheme use the same affordability and eligibility criteria as a standard mortgage, which means some might still consider you if you’ve had credit problems.