Yes, you can get a mortgage after you’ve been repossessed. But it’ll be more difficult this time around. Repossession is stressful and emotional time, and just because it’s happened in the past, doesn’t mean it’s going to happen again. Unfortunately, most high street banks won’t consider you at all after a repossession. They’ll see it in your credit history and it’s an instant no. That’s why it’s important to work with a specialist broker and lender who’ll take the time to understand you and your circumstances.
If you’ve been repossessed in the past, you’ll need to find a specialist lenders who’ll be happy to consider you and look at your unique situation.
They’ll look at:
The date of repossession
The reason for repossession
If you have any other credit issues
What your credit history has been like since your repossession
When they look at these factors, a lender will be working out if you’ve financially recovered from the repossession before they offer you a mortgage. If you’ve shown you’re stable by paying other creditors on time, they’ll be a lot more willing to offer you a mortgage at a competitive rate.
We get how it feels when you’re refused a mortgage. We’ve been there. Haysto exists because the mortgage world is broken. If you don’t have a shiny credit rating, you’re self-employed with a complex income, or just don’t fit the mould, the odds are completely stacked against you. We just don’t think that’s fair.
Unlike others, we only work on bad credit, self-employed and complex mortgages. That’s all we do. And we’re up for a challenge.
No robots, no automated answers. We use technology to connect you to a real person. Not replace them.
We only get paid when your mortgage is approved.