Mortgage arrears cleared over a year ago

ferry

Just curious. It has been around 16 months since we cleared our mortgage arrears. Will we need to disclose or will our credit file still show this as a concern to future potential lenders?

Thanks

dimbo61

Why not check out your credit file with the big three credit reference agencies.
Just Google them and log in for free trail then cancel within the first month.
Some now allow a free check.
Are you going to change lenders ?

csgohan4

you can keep the current lender using online retention products that don't require a credit check when it comes to remortage

David_White

A new lender will be aware of the arrears whether disclosed or not but if they ask the question you need to answer it truthfully.

It sounds like you've got two options:

1) Stay with your current lender and change product
2) Move to a new lender and potentially pay a higher rate of interest

Thrugelmir

ferry wrote: »

Just curious. It has been around 16 months since we cleared our mortgage arrears. Will we need to disclose or will our credit file still show this as a concern to future potential lenders?

If asked the question you'd need to answer truthfully. Mortgage arrears like any other default on a financial contractual arrangement will be recorded in your credit history. How the lender views this depends on their own internal policy. Though in general terms it will obviously show negatively.