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Overcoming Missed Payments:
Your Path To Mortgage Approval

Missed payments on your mortgage, credit cards or loans?
You can still borrow up to 5 times your income.

Check your eligibility in 2 mins.

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Get Approved: Mortgage Solutions for Those with Missed Payments.

Boost Your Borrowing

Worried About Missed Payments?

 

Late payments (arrears) happen all the time. Sometimes cashflow can be an issue or you may simply forget to make a payment. It makes a difference if you just miss one payment or multiple payments in a row

Personalised Mortgage Guidance

Our expert team offers solutions to help you regain financial stability. We analyse your situation, provide tailored advice, and guide you toward a stress-free future.

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Let's Get Started

3 Simple Steps.

Sourcing Lenders

1. Initial Assessment

We swiftly assess your eligibility and affordability across our specialist lenders. 

Complete our 2 minute mortgage availability check to get started.

Initial Consultation

2. Schedule Your Pre-application Consultation
 

Once we've reviewed your initial details, a qualified mortgage advisor will contact you to schedule an initial consultation. During this session, your mortgage expert will take a closer look at your application and discuss the options available to you.

Personalised Plan

3. Receive a Personalised Recommendation  

Your mortgage expert will build a personalised plan to meet your requirements.
 Securing a mortgage can be challenging, but there are specialised mortgage products available. You may need a larger deposit, typically around 15-20%. 

What You Need to Know:

Even if you've experienced missed payments, securing a mortgage remains possible. With the right preparation and expert advice, you can overcome past hurdles and step confidently toward homeownership, or a remortgage to improve financial stability.

1. Assessing Your Financial Health


Begin by taking a close look at your current finances. Lenders in the UK consider your income, recent payment behaviour, and overall financial management. Demonstrating a stable and improving financial profile can help counterbalance previous payment issues.

2. Boosting Your Deposit


A robust deposit can significantly improve your chances. Lenders may ask for a deposit of around 15–20% when past payment issues are present, as this helps reduce the perceived risk. Ensure you have clear records detailing the source of your funds to meet regulatory standards.

3. Reframing Your Credit Record


While missed payments affect your credit score, many lenders recognise the potential for recovery. Showing a period of consistent, timely repayments can demonstrate your commitment to financial responsibility, thereby enhancing your application.

4. Organising Key Documents


A strong application is built on thorough documentation. Be sure to prepare:

  • Identity Proof: Such as a valid UK passport or driving licence.

  • Proof of Address: Recent utility bills or bank statements.

  • Income Verification: Payslips for employees, or tax returns and accounts for the self-employed.

  • Credit Explanation: A detailed account of your missed payments and the corrective measures you’ve taken.


5. Identifying the Right Lender


Specialist lenders often cater to borrowers with challenging credit histories. These institutions offer mortgage products tailored to your unique situation, albeit sometimes with adjusted terms. Comparing various offerings can help you find a solution that suits your needs.

6. Defining Your Property Objectives


Decide whether your mortgage is for a family home or an investment property. Residential mortgages prioritise your ability to maintain repayments, while buy-to-let options assess potential rental income. Your property goal will influence the type of mortgage product available.

7. Accounting for Extra Fees


Beyond the deposit, remember that additional costs are part of the process. Budget for:

  • Property Valuations: Fees for assessing the property’s market value.

  • Application Charges: Arrangement or booking fees that may be higher for those with a riskier profile.

  • Legal Expenses: Solicitor and conveyancing fees to ensure a smooth transaction.


8. Demonstrating Financial Stability


Lenders seek evidence of long-term financial stability. Maintaining steady employment, managing your bank accounts carefully, and routinely checking your credit report can all serve to reassure lenders that you’re on a solid financial footing.

9. Exploring Mortgage Options and Rates


Mortgages for those with past payment issues might come with higher interest rates or more flexible repayment structures. Comparing fixed versus variable rates and understanding how different terms affect your monthly repayments is crucial for long-term affordability.

10. Planning for Credit Rebuilding


Securing a mortgage can be a pivotal step toward rebuilding your credit. Focus on reducing existing debts and ensuring all future payments are made on time. Over time, this improved financial discipline will enhance your credit profile and open doors to better mortgage deals.

11. Seeking Professional Guidance


Expert advice is invaluable when navigating complex financial situations. A mortgage adviser experienced with past payment challenges can help tailor your application, highlight your strengths, and connect you with lenders who understand your unique circumstances.

12. Understanding the Process Timeline


Mortgage applications involving past payment issues may require extra time due to additional checks. Being proactive, maintaining clear communication with your adviser, and preparing for detailed scrutiny of your financial history can help streamline the process.

13. Ongoing Support for a Secure Future


Our commitment to you doesn’t end at mortgage approval. We offer continued support through regular reviews and personalised advice, helping you manage repayments and steadily improve your credit standing over time.

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