Mortgage With Arrears Your Options Explained
Arrears — whether on a current mortgage, credit card or personal loan — do not automatically prevent you from getting a new mortgage. The key factors are whether the arrears are historical or current, how much was owed, and whether they have since been cleared.
🏦 What Lenders Look At
- Whether the arrears are current or historical
- The amount of arrears and how many months they represent
- Whether the arrears have been cleared
- How long ago the arrears occurred
- The reason for the arrears
❓ Common Questions
Can I remortgage if I have current mortgage arrears?
More difficult but not impossible. Some specialist lenders will consider a remortgage where there are current arrears particularly to reduce monthly payments.
How many months of arrears can I have and still get a mortgage?
There is no fixed limit. 1-2 months historical arrears is manageable. 6+ months requires specialist matching. The key is whether they are now resolved.
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.