How Long After a Default Can I Get a Mortgage?
Quick answer: There is no minimum waiting period to apply for a mortgage after a default. You can apply with a default registered yesterday — but your options will be very limited. Every 12 months that passes makes your options materially better.
🏦 What Lenders Look At
- Age of the default — lenders often use 1, 2 and 3 year thresholds
- Whether the default is satisfied
- The amount of the default
- Whether there are other adverse credit markers
- Deposit size and overall affordability
❓ Common Questions
When does a default come off my credit file?
A default is removed exactly 6 years from the date it was registered regardless of whether it has been paid.
Does my credit score improve as the default ages?
Yes gradually. The impact of a default on credit scores reduces as it ages. By 4-5 years old its negative impact has diminished significantly.
YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP YOUR REPAYMENTS ON YOUR MORTGAGE OR ANY OTHER LOAN SECURED AGAINST IT.
This page is for general information only and does not constitute regulated financial advice. The Mortgage Geezer is a trading style of Access Financial Services Ltd who are authorised and regulated by the Financial Conduct Authority. The Financial Services Register number is 301173. Registered in England No. 04427489. Registered office address Access Financial Services Ltd, Unit 1 Furtho Court, Towcester Road, Old Stratford, Milton Keynes, MK19 6AN.