Cashback Remortgages · Eligibility
Mortgages With a Default on Your Record
A default is recorded when an account is considered to have broken down. It affects a mortgage, but its impact fades with age and depends on the details.
How defaults are viewed
Recent defaults weigh more than older ones, and a satisfied default is viewed more favourably than an outstanding one. The type of account and the amount also matter, and defaults drop off your file after six years.
Specialist lenders may consider defaults high-street lenders will not.
Preparing
Get evidence of any satisfied defaults, check your files and be ready to explain the circumstances. Advice helps match your record to a suitable lender and rate.
Sources and further reading
General mortgage information, not a personal recommendation. Lender criteria and scheme rules can change. Ask an adviser about your circumstances and a solicitor or tax adviser about legal or tax questions. Your home may be repossessed if you do not keep up repayments on your mortgage. Most buy-to-let mortgages are not regulated by the FCA.
Discuss the next step for your mortgage
Understand your options before you make a decision.