I want to become a landlord again, but had a property repossessed in the past. Would I be considered by any lenders?

I had a buy-to-let mortgage on a house between 2002 and 2007. The house ended up being repossessed as my tenant lost his job and I could not cover the monthly repayments personally. My circumstances are much better now and I would like to go back into the world of being a landlord. Would a lender grant me a mortgage considering my past history?

I am sorry that you had a property repossessed. I expect that you have learnt by hard experience that it is always the borrower’s responsibility to pay the mortgage, regardless of the tenant’s circumstances. Because of your history, there are very few lenders that would be willing to consider you today. You would most certainly have to have a very good credit rating now in order to even begin a discussion. Your best bet would be to ask a broker for help, call us today on 0345 345 6788.

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