A satisfied CCJ and one missed mortgage payment 14 months ago. Three BTL lenders declined. Mortgage offer in 5 weeks.
Buy to let lending criteria for adverse credit is more restrictive than residential mortgage lending at many lenders. The combination of a CCJ — even satisfied — and a missed mortgage payment in the last 24 months was triggering automated declines at most specialist BTL lenders.
The missed mortgage payment was the more sensitive issue. Lenders treat missed payments on mortgage accounts more seriously than missed payments on credit cards or utilities, as it suggests the borrower has prioritised other spending above their secured debt. For BTL lenders specifically, this is a particular concern as it suggests a potential pattern for the investment property.
The landlord had an otherwise strong portfolio with good rental yields and no other credit issues — but this context was not reaching underwriters through automated systems.
Darryl identified that the missed mortgage payment, while 14 months ago, was isolated — the previous 6 years of the mortgage had been paid without a single missed payment, and the payment had been caught up immediately the following month. This context was critical and needed to be presented directly to a manually underwriting lender.
Darryl approached a specialist BTL lender with a product specifically designed for portfolio landlords with adverse credit. Unlike many BTL lenders, this lender accepted one missed mortgage payment older than 12 months alongside a satisfied CCJ older than 24 months — this case met both criteria precisely.
The rental stress test was calculated on the expected rental income of the new property (£975 per month), which at 125% coverage comfortably supported the required loan amount.
Darryl reviews every case personally and responds within 2 hours. Free assessment — no credit search, no obligation.
The Mortgage Geezer is a trading style of Access Financial Services Limited, authorised and regulated by the Financial Conduct Authority — FCA No. 301173. Registered in England No. 04427489. Your home may be repossessed if you do not keep up repayments on a mortgage.