Award-Winning Bad Credit Specialist · FCA No. 301173
Mortgage After Repossession UK Starting Again Is Possible
A previous property repossession is one of the most serious forms of adverse credit but it does not permanently prevent homeownership. Darryl Dhoffer has helped clients get mortgages after repossession.
43 Google Reviews
Award-Winning
90+ Lenders
FCA No. 301173
01234 237321
Mortgages After Repossession — The Truth
A property repossession occurs when a lender takes back a property because the borrower has failed to keep up with mortgage repayments. It is one of the most severe adverse credit events but it is not a permanent bar to homeownership.
Specialist lenders will consider mortgage applications from people with previous repossessions particularly when sufficient time has passed and the applicant financial situation has stabilised.
Darryl Dhoffer — The Mortgage Geezer
20+ years in mortgages. Award-winning specialist. Featured in the Daily Express, FT Adviser and The Intermediary. I have helped hundreds of people across the UK who were told no by their bank — and I work with 90+ lenders including specialist adverse credit lenders you will not find on comparison sites.
When you contact me, you speak to me directly. No call centres. No being passed around. I personally review every case and respond within 2 hours.
CeMAPCeRERFCA 301173AWARD WINNINGINDEPENDENTWHOLE OF MARKET
Frequently Asked Questions
Can I get a mortgage after a repossession? ›
Yes but it is one of the most challenging types of adverse credit to overcome. The key factors are how long ago the repossession occurred whether any outstanding balance was settled after the property was sold your income and financial stability since and the deposit available. Specialist lenders will consider post-repossession applications typically requiring 2-3 years since the repossession and a significant deposit.
How long after a repossession can I get a mortgage? ›
Repossession appears on your credit file for 6 years and is typically visible to mortgage lenders throughout this period. Some specialist lenders will consider applications 2-3 years after repossession with the right deposit and income. Others require longer. The better your financial record since the repossession the more options are available.
How much deposit do I need after a repossession? ›
Most specialist lenders require 25-35% deposit for post-repossession applications. The exact amount depends on how long ago the repossession occurred whether there is an outstanding shortfall and the rest of your financial picture. Darryl will advise on exactly what deposit is needed for your specific situation and timeline.
Do I need to have repaid the mortgage shortfall? ›
If your repossessed property was sold for less than the outstanding mortgage creating a shortfall this debt remains owing to the lender and may appear as a default or CCJ on your credit file. Having the shortfall settled or on a repayment plan improves your mortgage options. Darryl will advise on how outstanding shortfalls affect your application and the best approach to resolving them.
Will a repossession from my ex-partner affect my application? ›
If you were jointly named on the repossessed mortgage it will appear on your credit file. If the repossession was solely in your ex-partner name and you had no financial connection to it it should not appear on your file. Darryl will review your credit file and clarify exactly how the repossession is recorded and how lenders will assess it.
Get Your Free Assessment Today
No credit search. No obligation. Darryl personally reviews every enquiry and responds within 2 hours.
01234 237321
darryl@themortgagegeezer.co.uk
FCA No. 301173
43 Five-Star Reviews
The Mortgage Geezer is a trading style of Access Financial Services Limited, authorised and regulated by the FCA No. 301173. Your home may be repossessed if you do not keep up repayments on a mortgage.
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