Can lenders consider me for a mortgage with missed payment showing on my credit report?
- missed mortgage payments
- missed credit card payments
- missed utility Bill payments
- missed catalogue directory payments
- missed mobile phone payments
- missed mortgages
- missed secured or unsecured loan payments
The answer to your question is ‘yes’ but it all depends on what type of payment and when it took place.
For mortgage lending there is a big difference between a mobile phone missed payment and a mortgage missed payment, so it’s important we identify what was reason for the issue and when it was registered on your credit report, and some instances what you did (if anything) to remedy the situation.
Generally missed payments on unsecured debt (that is anything that does not take your home as security for repayment such as: credit cards, catalogues, mobile phones, and exceeding your overdraft limit) is not as serious as secured missed payments such as: mortgages and secured ‘second charge’ loan repayments.
As with any adverse credit issues mortgage lenders prefer them to be dated as far into the past as possible, that said we may be able to help you if you have had issues in the last 12 months but the product choices are restricted.
For more information on getting a mortgage with missed payment, please complete the online enquiry form on this page or call us on T: (020) 7993 2044.