Mortgage With Missed Payments

Yes, you can usually get a mortgage after missed or late payments. Lenders care most about how recent they are, how many there were and which account, and a few late payments that are now up to date rarely rule you out.

Each month, your lenders report whether you paid on time. If you miss a payment, your credit file shows an arrears marker, usually a number showing how many payments behind you were. These markers stay on your file for six years, but lenders care far more about the last 12 to 24 months than about older history.

A missed payment is not the same as a default. If you caught up, the account stays open and the markers simply show you were late. That is viewed much more kindly.

For how missed payments compare with other credit problems, see our bad credit mortgage guide.

Can you get a mortgage with missed payments?

Usually, yes, especially once you are back up to date. Many mainstream lenders accept isolated late payments from more than 12 months ago. Recent or repeated missed payments, or arrears on a mortgage or rent, narrow the choice and usually mean a specialist lender and a larger deposit. The time since your last missed payment matters most.

How do lenders judge missed payments?

Factor	What lenders look for
When	Payments missed more than 12 months ago are accepted by many mainstream lenders. Missed payments in the last few months narrow the options
How many	One or two isolated late payments are treated very differently from a pattern
How far behind	Being one payment behind is less serious than three or more
Which account	Missed mortgage or rent payments are treated most seriously. A late phone or credit card payment less so
Now	Whether the account is up to date today

How do lenders treat missed payments? (criteria checked October 2026)

We checked the criteria these lenders publish for brokers on 16 and 17 October 2026. Criteria change often, every lender also credit scores, and meeting a rule does not guarantee approval. Use this as a guide to where you might fit, not a promise.

Lender (source)	Mortgage or secured loan	Other credit
Virgin Money (high street)	None in the last 6 months, max 2 months’ arrears per mortgage in 2 years	Limits on months missed in 6 months to 2 years, depending on the account
TSB (high street)	Declines one month or more late (over £100) in the last 12 months	Declines two months or more late in the last 6 months
Leeds (building society)	Max 1 missed payment in the last 12 months	No more than 2 months’ arrears on any account in 24 months
Skipton (building society)	Declines any arrears in the last 6 months, or more than 2 months in 2 years	Declines more than 2 missed on any account in 6 months
Accord (building society)	No more than 1 missed payment on one account in 24 months	No more than 2 on one account in 24 months
Kensington (specialist)	From older than 36 months down to 1 in 24 months, none in the last 3	From up to date down to no maximum status
Bluestone (specialist)	Tiers from none in 24 months to 4 in months 13 to 24, none in the last 12	Up to 5 accounts in arrears at completion, small balances ignored
Precise (specialist)	Up to 1 in 12 months or 3 in 36 months, none in the last 3	Not counted, but may affect the credit score

What this tells you: missed mortgage payments are treated much more seriously than a late phone bill. The last 6 to 12 months matter most to every lender.

Rules are summarised in plain English from each lender’s own published criteria. Lenders change them regularly, so we check again before recommending anything.

Real client case: remortgaging with missed payments to raise a buy-to-let deposit

Our client had a mortgage with a high street bank and wanted to release money to buy a buy-to-let property. Missed payments on their credit file meant their circumstances did not fit mainstream criteria.

We went through their credit history first: when the missed payments happened, how many there were and whether the accounts had been brought up to date. Rather than risk applications with lenders unlikely to accept them, we went to a specialist lender whose criteria matched their credit file and that looked at their recent conduct, income and affordability alongside the past problems. The remortgage completed and released the money for the purchase.

What this shows: missed payments do not have to stop you raising money from your home. The detail of when they happened and what has happened since decides which lenders will look at you, so it pays to check that before applying.

Which situations do lenders see most?

These are illustrative situations, not Option Finance client outcomes.

One late card payment

A single missed credit card payment over a year ago, paid straight after. Many mainstream lenders will not mind.

Usually normal terms

A rough few months

Several late payments during a job change or illness, all up to date since. Lenders want the reason and a clean run after.

Explain it and keep it clean

Recent mortgage arrears

Missed mortgage payments in the last six months. This is the type lenders worry about most.

Clear arrears, then rebuild

Payment arrangement

A reduced payment plan agreed with one lender. Lenders read it as past difficulty, much like missed payments.

Finish it if you can

Illustration only

A buyer missed two credit card payments 18 months ago during a job change, caught up straight away and has paid on time since. Many mainstream lenders would consider them on normal terms. A buyer who missed three mortgage payments in the last six months would usually need a specialist lender, a larger deposit and a clear explanation.

What if you missed mortgage payments?

Arrears on a mortgage are the most serious kind of missed payment, because it is the same type of debt you are applying for. Lenders want to see:

the arrears cleared
a period of on-time payments since, often 6 to 12 months at least
an explanation of what happened

If you already own a home and your deal is ending, a product transfer with your current lender may still be available once the arrears are cleared. See our guide to remortgaging with bad credit.

Do payment arrangements and payment holidays count?

If you agreed a reduced payment plan with a lender, it may show on your file as an arrangement to pay. Lenders treat it as a sign of past difficulty, similar to missed payments. Payment holidays taken under the official Covid-19 schemes were not meant to affect your credit file.

How much deposit will you need?

Older, isolated late payments: many lenders accept a 5% to 10% deposit.
Recent missed payments: often 10% to 15% or more.
Recent mortgage arrears: often 15% to 25%, with specialist lenders.

What will a lender ask you to explain?

Underwriters read the detail, so expect questions about anything recent. It helps to have ready:

The reason, in a sentence or two, such as illness, redundancy or a direct debit that failed
What has changed, for example a new job or direct debits on every account
Recent bank statements that show bills going out on time
Proof of any bank error, if a payment was missed through no fault of yours

A clear, honest explanation that matches your credit file goes a long way. One that does not match raises more questions.

How can you improve your file?

Get all three credit files from Experian, Equifax and TransUnion and check each marker is accurate. The ICO explains how to get your file free and correct mistakes.
Get up to date on every account, and stay up to date. Time since the last missed payment is the biggest single factor.
Set up direct debits so nothing is missed by accident.
Add a notice of correction if there was a clear one-off reason, such as illness or a bank error.
Register on the electoral roll.
Do not apply for new credit in the months before your mortgage application.

If a lender has recorded a missed payment that you believe is wrong and will not correct it after a complaint, you can take it to the Financial Ombudsman Service.

What if missed payments led to other problems?

If missed payments led to defaults, CCJs or a debt management plan, those carry more weight. Lenders look at the whole picture, and the most recent problem usually counts most.

Frequently asked questions

Can I get a mortgage with missed payments?

Usually, yes. Many lenders accept older, isolated late payments that are now up to date. Recent or repeated missed payments, especially on a mortgage, usually need a specialist lender.

How long do missed payments stay on my credit file?

Six years. Most lenders focus on the last 12 to 24 months.

Is a missed payment the same as a default?

No. A missed payment shows you were late. A default is registered when the lender closes the account because you fell too far behind, and is treated more seriously.

How long after a missed payment can I get a mortgage?

There is no fixed rule. Some specialist lenders consider recent missed payments, while many mainstream lenders want around 12 months of clean payments.

Can I get a mortgage with mortgage arrears?

It is harder but possible, usually once the arrears are cleared and you have a period of on-time payments. Expect to need a specialist lender and a larger deposit.

Do late payments on a phone contract count?

Yes, they show on your file like any other account. Most lenders treat a late phone payment less seriously than a missed mortgage, rent or loan payment.

Can I get a late payment removed from my credit file?

Only if it is wrong. An accurate marker stays for six years, but you can add a notice of correction to explain a one-off reason.

Speak to Option Finance about a mortgage after missed payments

Send us your credit files and tell us what happened. We will tell you straight which lenders would consider your payment history now, whether waiting a few months would help and what deposit you would need.

Book a free initial consultation using the enquiry form below. See our adverse credit mortgage advice, and read our guides to mortgages with a default and joint mortgages with bad credit.

Mortgages After Missed or Late Payments