Yes — but you’ll need time, the right lender, and a solid application.
Having a repossession on your credit report is one of the most serious flags in the eyes of a mortgage lender. But it doesn’t mean you can’t get back on the property ladder — it just means you need to be strategic and realistic.
Here’s what you need to know if you’ve previously had a property repossessed.
🏚️ What Is a Repossession?
Repossession happens when your lender takes back your home because you’ve fallen too far behind on mortgage payments.
It’s recorded on your credit file and stays there for 6 years — and will almost always result in an initial decline from high street banks.
🧠 How Soon Can I Apply for a Mortgage After Repossession?
Typical lender rules:
- Minimum wait: 12–24 months
- Better options: 3–6 years post-repossession
- Ideal: Repossession + no further issues + strong deposit
💡 The longer it’s been, the better — especially if you’ve had no new credit problems since.
💷 What Deposit Will I Need?
Expect to need:
- 25%+ within 2 years
- 15–20% after 3–5 years
- 10% only after 6+ years with clean credit
A larger deposit shows commitment and reduces risk — essential with a repossession in your history.
📋 What Will Lenders Want to See?
✅ A full explanation of the repossession
✅ Stable income and employment
✅ Evidence of good credit behaviour since
✅ A realistic mortgage amount (no over-borrowing)
💬 Your Past Doesn’t Have to Define Your Future
A repossession feels final — but it isn’t. With the right advice, timing, and lender, you can get approved again and rebuild your homeownership goals.
✅ Access to flexible lenders
✅ Support preparing your case
✅ Honest answers about what’s realistic