mortgage arrears help

lorton

Hi....

I am in arrears currently by 3 months with my mortgage but read on another closed thread that if a person is in arrears, if I capitalise the arrears the 3 marker which references 3 months arrears on my credit file would return to 0. Can this be true? And if so, does it apply to any mortgage provider or just certain ones??

Any help would be very much appreciated???

Thrugelmir

What are you hoping to achieve?

lorton

I would like to keep a clean slate on my credit file as much as possible and this might help me if true as it will keep my file clean...if i could add it to the mortgage and not pay immediately like they are asking it would be a great help and i could get back on track

Thrugelmir

lorton wrote: »

I would like to keep a clean slate on my credit file as much as possible and this might help me if true as it will keep my file clean...

Arrears record will be held on your credit file for 6 years.

Lenders access the same data you see in a different form. So will score you accordingly. Only time can wipe your slate clean again.

lorton

thanks for advice...

Farmerbob

If your lender does offer it, they may have certain conditions that need to fulfilled before they do it. Are you currently paying an arrangement with them and if so how long?

As Thrugelmir says the record of your arrears will still show for 6 years after they occurred.