Mortgage With Missed Payments in the Last Year Recent Issues Can Still Be Placed
Having missed payments within the last 12 months is more challenging but far from impossible. Specialist lenders assess your full picture — the reason for missed payments, your current financial stability and your deposit size all play a significant role.
🏦 What Lenders Look At
- The reason — illness, redundancy, relationship breakdown are understood
- Whether payments are now up to date
- How many payments were missed and across how many accounts
- Deposit — 15-25% significantly improves options with recent missed payments
- Current income stability and affordability
❓ Common Questions
Can I get a mortgage with missed payments in the last 6 months?
Yes though options are more limited. Bluestone and Pepper Money will consider very recent missed payments if you can demonstrate payments are now up to date.
Will I pay a higher rate with recent missed payments?
Typically yes. Specialist lenders price for risk. However as your credit history improves you can remortgage to better rates — usually within 2-3 years.
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.