Getting a Mortgage after Repossession
If you’ve lost your home in the past through home repossession, you may think your future ambitions of homeownership are impossible.
The good news is that with the right specialist lender and deposit, you can be considered for a mortgage even if you have a repossession in your financial history.
At Harmony FS, we believe that everyone should always have the opportunity to buy their dream home, regardless of their past financial circumstances. We work with many specialist lenders who help people with bad credit ratings, CCJs, IVAs, and much more to get a mortgage.
Will I Be Eligible for a Mortgage after Repossession?
If you’ve had a home repossessed, the number of lenders you can borrow from is significantly reduced. But there are many who are willing to consider your application. They will take into account a range of factors including:
- Length of time since repossession and why it happened
- Size of deposit (normally at least 25% of property value)
- Any other past credit issues such as IVAs or CCJs
- Your current financial situation, how you’ve aimed to repair your credit rating, and what savings you have, etc.
How Harmony FS Works with You to Help You Get a Mortgage after Repossession
At Harmony FS, we’re all about helping you access the best deals after repossession. We offer no-nonsense personal advice that will put you in the best position to buy a house. We also know it’s important to be flexible with our meeting and call times to suit your busy schedule, so we can communicate via phone, email, and even video calls. We offer access to the whole of the market and specialist lenders to get you the mortgage for your current circumstances.
Get in touch using the form or call us on 0115 896 9776 to see how we can help you get a mortgage after repossession.