Due to financial difficulty we had our house repossessed about 18 months ago and have been since been renting a house. Could we ever get another mortgage? We earn more money now and have far less outgoings, plus we have never missed a rent payment since we moved. We are private tenants and our rent is higher than our mortgage was.
If you have had your house repossessed you may find it difficult to get another mortgage, but it should not be impossible. Make sure you shop around and apply to a number of different lenders. It would also be worth talking to an independant mortgage broker who will have access to a range of mortgages from a number of lenders. In most cases you will have to put down a higher deposit than is usual, and your interest rates will be a lot higher.
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