Kensington ignoring missed mobile phone and broadband payments

by Aaron Strutt

Sep 27 2015

Specialist mortgage lender Kensington will ignore mobile phone defaults and potentially missed broadband payments when applicants apply for a mortgage.

The broker-only lender also highlights that it will ignore payment defaults and County Court Judgement’s (CCJ) providing they are more than two years old. 

Many high street mortgage lenders prefer borrowers to have a clear credit history. For example, Woolwich for Intermediaries will decline any applications where there is an unsatisfied CCJ. The banks criteria even states that any application with an outstanding default will be declined, irrespective of the amount.  

Aaron Strutt, product manager at Trinity Financial, says: “If you have missed the odd payment over the last couple of years and you have lots of credit history, it shouldn't be a problem getting you a mortgage. It is trickier if you have a limited amount of credit and you paid a couple of utility bills late or you missed a mortgage payment.”

Magellan Home Loans is one lender offering credit repair mortgages even if applicants are in a Debt Management Plan. If someone entered a repayment plan over three years ago, the applicant may not need to explain why they got into financial difficulty. However, if they entered a debt plan more recently, they will need to have gone through a life changing event to qualify.  For example, a divorce, illness or redundancy.

For help to secure mortgage call Trinity on 020 7016 0790.