Can I Remortgage If I’ve Missed Mortgage Payments?
If you’ve missed mortgage payments, remortgaging is still possible. But your options depend heavily on how recent the missed payments are, how many there were, and whether your mortgage account is now stable.
Can You Remortgage With Missed Mortgage Payments?
Yes, potentially. Missing mortgage payments does not automatically stop you remortgaging, but it does reduce your options significantly.
Most high street lenders are very strict when it comes to recent mortgage arrears. Specialist lenders are usually far more flexible and may still consider cases the high street will decline.
You are not necessarily stuck, but you are unlikely to qualify for standard high street mortgage deals.
Does missing mortgage payments stop you remortgaging?
No, not automatically.
However, mortgage payment history is one of the most important things lenders assess. Recent missed mortgage payments are viewed more seriously than many other types of adverse credit.
The key factors are:
- How recent the missed payments were
- How many payments were missed
- Whether the account is now stable
- Whether the situation has improved or worsened
How recent were the missed payments?
| Timing of missed payments | Typical lender view |
|---|---|
| Last 3 to 6 months | Very difficult |
| 6 to 12 months ago | Possible with specialist lenders |
| 12 months plus | Much easier |
Ideally, lenders want to see no missed mortgage payments within the last 12 months.
How many mortgage payments were missed?
| Missed payments | Typical outcome |
|---|---|
| 1 missed payment | Often manageable |
| 2 to 3 missed payments | More restricted, specialist lenders likely needed |
| 3 plus missed payments | Much harder, limited specialist options |
Is the mortgage account now stable?
This is critical.
If your mortgage account is now fully up to date and has remained stable, your chances improve significantly.
Some lenders will accept historic arrears or status 1 to 2 arrears markers, provided:
- The account is now maintained properly
- The situation has not worsened
- There are no ongoing missed payments
If you are still missing mortgage payments currently, options become much more limited.
Real world remortgage examples
Example 1, one missed payment
One missed mortgage payment 8 to 12 months ago may still allow remortgaging up to around 85% loan to value with a specialist lender.
Rates will usually be slightly higher than clean credit cases.
Example 2, multiple missed payments
Two to three missed payments within the last 12 months will usually require specialist lenders only.
Example 3, ongoing arrears
If arrears are ongoing or worsening, immediate remortgage options become extremely limited and stabilising the account first is often the better route.
Case studies, real clients we’ve helped
Case Study 1, single missed payment
Client had one missed mortgage payment 9 months earlier following a temporary income drop.
- Mortgage now fully up to date
- Remortgaged at 85% loan to value
- Specialist lender used
- Slightly higher rate than high street
Case Study 2, multiple missed payments
Client had three missed mortgage payments within the previous 12 months.
- High street lenders declined
- Specialist lender approved
- Higher interest rate
- Avoided further financial pressure
Case Study 3, ongoing arrears
Client was still actively in arrears when they contacted us.
- No immediate remortgage options available
- Advised to stabilise payments first
- Review planned again within 6 to 12 months
Can you stay with your current lender instead?
Potentially, yes, and this is often the easiest option.
If your credit has worsened, a product transfer with your existing lender can sometimes avoid full credit scoring entirely.
- No full remortgage application in many cases
- No legal work
- Faster process
- Can avoid reverting onto a high standard variable rate
What rates should you realistically expect?
Let’s be realistic. If you’ve missed mortgage payments recently:
- You are unlikely to qualify for standard high street rates
- Most options will come from specialist lenders
- Rates are often around 1% to 2% higher than clean credit cases
However, securing a stable fixed rate can still be far better than falling onto a lender’s standard variable rate.
How much can you borrow?
This depends on the lender and the severity of the missed payments.
Typically:
- Up to around 85% loan to value may still be possible
- More recent arrears may reduce the maximum loan to value further
- Severe or ongoing arrears may require substantial equity
What can improve your chances?
- Keeping your mortgage fully up to date
- Avoiding any new missed payments
- Reducing unsecured debts where possible
- Checking your credit reports properly
- Maintaining stable income
It is also important to understand that credit scores themselves are often misleading. Lenders focus much more heavily on actual payment conduct.
When should you apply?
Timing matters more than most people realise.
Waiting too long can leave borrowers stuck on expensive standard variable rates. In many cases, it is worth reviewing options early before your current deal ends.
Why specialist advice matters
Adverse remortgage cases are far more specialist than people realise.
Many brokers focus mainly on standard high street lending and may incorrectly assume no options exist.
In reality, specialist lenders can sometimes help where mainstream lenders will not.
