Missed or late payments are one of the most common credit issues people worry about when applying for a mortgage. They can happen for many reasons, from a change in income to an unexpected bill or simple oversight.
While missed payments can make some lenders more cautious, they do not always prevent you from getting a mortgage. What matters is how recent they were, how many there were, and whether your finances are now back on track.
Can I get a mortgage with missed payments?
You may still be able to get a mortgage if you have missed or late payments on your credit file. Lenders will usually consider the type of account involved, how long ago the missed payment happened, and whether there have been any further issues since.
A single missed payment from some time ago may be viewed differently from repeated missed mortgage, loan or credit card payments.
What lenders may consider
Lenders may review:
- The number of missed or late payments
- How recent the missed payments were
- Whether they were on secured or unsecured credit
- Whether the account is now up to date
- Your current income and outgoings
- Your deposit amount
- Any other adverse credit markers
- Your overall affordability
How to improve your chances
Before applying for a mortgage, it may help to:
- Check your credit report for errors
- Bring all accounts up to date where possible
- Avoid taking on new borrowing
- Keep making payments on time
- Save as much deposit as you can
- Speak to a specialist adviser before applying
Support from Just Mortgages
Our Adverse Credit Solutions Team can review your credit history and help you understand which lenders may be suitable. We will explain your options in plain English and guide you through the process from initial enquiry to application.
Book an appointment with an adverse credit mortgage adviser.
Mortgage with Missed or Late Payments FAQs
Can I get a mortgage with missed payments?
You may be able to get a mortgage with missed or late payments, depending on how recent they were, how many there were, what type of account they related to and whether your finances are now back on track.
Is one missed payment a problem for a mortgage?
One missed payment may not stop you from getting a mortgage, especially if it happened some time ago and your credit conduct has been good since. However, each lender will assess this differently.
Are missed mortgage payments worse than missed credit card payments?
Missed payments on secured borrowing, such as an existing mortgage, may be viewed more seriously than missed payments on unsecured credit. Lenders will look at the type of account, how recent the issue was and whether it has been resolved.
How recent can missed payments be when applying for a mortgage?
This depends on the lender. Recent missed payments can make an application more difficult, while older missed payments may be less of a concern if your finances have improved.
Will late payments affect my mortgage interest rate?
They could. If your credit history limits the lenders available to you, the products you qualify for may differ from standard high street deals. Your adviser can explain what options may be available.
What should I do before applying for a mortgage with missed payments?
It may help to check your credit report, bring accounts up to date where possible, avoid new borrowing, maintain regular payments and speak to an adviser before applying.
Can Just Mortgages help if I have missed payments?
Yes. Our Adverse Credit Solutions Team can help you understand how missed or late payments may affect your mortgage options and guide you through the next steps.