Can You Get a Mortgage with Outstanding Debt?

Getting a mortgage can be difficult when you are in debt. This article explains your options and how you can get a mortgage with outstanding debt.


Is it possible to get a mortgage while in debt?


It is possible to get a mortgage whilst in debt, having debts does not exclude someone from being able to get a mortgage. One of the things that makes it easier for a lender, of any type, to make a decision is the ability to check your file with one of the credit reference agencies. This will show the history of your accounts and whether these have been managed in accordance with the contractual terms. If you never had any credit commitments then there would be nothing to see and this may make it difficult to make a decision about how well you will manage your mortgage payments.

In addition to the above, debts that are in arrears, defaulted, subject to court orders will be of interest to a lender and may make it more difficult getting a mortgage, or harder to access the best deals. Speak to an independent, whole of market, mortgage adviser and they will be best placed to identify mortgage products that are suitable to your needs.


I can’t get a mortgage, what are my options?


If your bank won’t provide the right mortgage for you, there are many other banks and building societies that do offer “Buy to Let” mortgages. Search on the internet or go to your local high street and speak to another mortgage provider about switching to them. 

For more information, please read our article: What happens if I miss a mortgage?

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