Remortgage With Late Payments — Yes, It's Possible

Remortgaging With Late Payments — What You Actually Need to Know

Late or missed payments are the most common type of adverse credit, and a single old one rarely blocks a remortgage on its own. Lenders ask how recent the late payment was, how many were missed, what type of account it was on and whether you have been up to date since. Your current lender is under no obligation to offer you a product transfer, and its decision has no bearing on whether specialist lenders will consider you: they assess your current circumstances, equity and credit profile.

The biggest distinction is the account type. A missed payment on a utility bill from 3 years ago will have minimal impact, while multiple recent missed payments on a credit card need a specialist approach. Missed payments on your mortgage are the most serious issue for a remortgage: arrears within the last 12 months significantly restrict options, whereas if they are over 12 months old and now up to date, some specialist lenders will still consider you, particularly with substantial equity.

The first step is a free, no-obligation assessment where Darryl reviews your full situation and gives you an honest picture of what is possible, before any application is made and before anything touches your credit file. For the full picture see the bad credit remortgage guide.