wecanhelpyouwithallyourbadcreditmortgageneeds

Applying for a mortgage with missed mortgage payments showing on your credit history can make obtaining a new mortgage every difficult, most high street lenders will not accept lots of missed payment on unsecured credit showing on your credit report. At Plus Financial solutions we have lenders that will accept missed payments within certain parameters.

WHAT ARE MISSED PAYMENT ON UNSECURED CREDIT?

An account is said to be in arrears if the debt, liability, or obligation expected is overdue. If one or more payments have been missed in transactions where regular payments are contractually required, such as a loan or credit card. A missed payment will show as a 1 on your credit report. Missed 2 an a row and it will show as a 2, and so on. Any unsecured arrears within the last 6 months may make it difficult to find a new lender.

WHAT LEVEL OF MORTGAGE ARREARS WILL LENDERS ACCEPT?

More than 2 missed payments within the last 6 months:

No lenders available

Missed payments within the last 12 months but over 6 months:

Up to 85% of the property value subject to a credit check

Missed payments within the last 2 years but over 12 months:

Up to 85% of the property value with unlimited missed unsecured missed payments

Missed payments over 3 years ago:

Up to  90% of the property value, unlimited missed payments

Missed payments over 4 years:

Up to 95% of property value, unlimited missed payments

Get in touch today to see how we can help

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