Mortgage payment arrears are of great concern to any lender. The reason behind this is they consider, and you probably will agree, the
mortgage payment is the last payment to suffer if you fall in to financial difficulty. You will always try your utmost to keep the roof
over your head. So if you fall behind on
your mortgage payments the household financial strain would have to be quite severe.
What if the arrears have been cleared
If your mortgage is up to date but arrears are still registered on your credit report there is every possibility you could secure a mortgage,
however the loan to value (LTV) will more than likely be below 85%. The majority of lenders will consider the reason for the arrears and whether that
situation has been resolved,
such as getting a new job following losing one, when considering any mortgage application.
What if I am still in arrears
If you are still in arrears with your mortgage payments, unfortunately securing a mortgage will be very unlikely. You would have to find a way to clear the mortgage arrears,
which Lawrie Mortgages may be able to help you with, before being considered for a mortgage from any lender.
What if you have other bad credit
If you have multiple arreas and/or other bad credit registered on your credit report it is important you get in touch so we can start checking your eligibility for any mortgage application.
It is important your application, or next application,
is with the best mortgage option to dramatically increase your chances of being approved for a mortgage.
Simple, get in touch. Before you do you may want to enquire about your credit file as your mortgage adviser will more than likely ask you for it as it
will form part of his research in finding your best mortgage choice. As with all mortgages there is no guarantee you will be accepted for mortgage following application but going through Lawrie Mortgages and letting us help you make the best mortgage choice will greatly increase your chances. Any successful mortgage application will rely on your own personal
circumstances which will include your income and affordability as assessed by the respective lender underwriting.
0121 616 0216