Previously Repossessed (years ago acceptable)
Our standard acceptability
Indicates if a lender can accept Buy to Let applications from applicants that have previously been repossessed and if so how many years need to have passed to be acceptable. For example an applicant had a property repossessed just over 5 years ago and now wishes to apply for a Buy to Let mortgage. They speak to their bank who informs them that they can consider applicants who have previously been repossessed as long as it was over 5 years ago. This means the applicant can potentially proceed.
Unfortunately, we are unable to lend to any borrower who has been previously repossessed.
29 August 2018