Missed payments and mortgage application

jazzyja

Hello, I’m looking at selling up and borrowing some extra next near in a hope to move. 

Only problem is I have 5 “missed payments” from British Gas from last year (last missed payment was August 2022). I won’t bore you with long story but I got a large bill when my energy prices just shot up (I also left British Gas so this was a final bill) and I couldn’t pay it for 5 months but I then paid it in full and it then it went but left me with the missed payments. For the 5 months it says missed payment and not arrears or default which I don’t know if that’s right because the account was closed and that debt was owed? 

Anyway my main question is will this massively affect my chances of getting a mortgage? I currently have a mortgage with tsb and never missed or made a late payment. Thanks 

MrFrugalFever

It may not affect your ability to get a mortgage but it'll certainly affect your ability to get one from a mainstream lender. 1 missed payment may well be overlooked but 5.....not good.

I'd approach a mortgage broker who specialises in poor credit history if you're considering getting another mortgage.