You can, but it is likely to be more challenging. If you have a good deposit, then some lenders will still be able to extend lending to you - this is because their risk is lower than if you had a smaller deposit available.
If your late payments were against unsecured lending, such as a mobile bill or a utility bill, this is typically not as serious. For example, if you were late on one or two mobile bills in the last few years, most mortgage lenders won't consider this significant enough to impact their decision about whether to lend.
However, late payments against secured borrowing, such as a mortgage payment or a car repayment are more serious.
If your credit file shows multiple late payments against secured borrowing, lenders may be very reluctant to extend credit to you. Alongside this, if you are looking for a high mortgage LTV, and have a deposit of, sy, less than 15% of the value you wish to borrow, it may be challenging to secure a mortgage.
This happens because if the value of the property drops and you have secured a high proportion of lending against the value of the home, this could put you into a negative equity situation where you owe more than your property is worth.
How serious are my late bill payments to a mortgage lender
Missed payments and defaults on secured lending are considered the most serious - these indicate a higher likelihood that you will miss amounts owing to your mortgage lender.
Late payments considered less severe are those against unsecured lending, such as phone bills and utilities.
Late payments on lending such as overdrafts and credit cards may be adverse depending on how late they were, and how long ago the issues occurred.
Missing payments to secured loan and mortgage providers are much more severe and might impact your future ability to secure lending. Particularly if you have missed a payment on your existing mortgage, it may be tough to secure a new mortgage or a remortgage.
In this scenario, it is essential to work with an experienced finance broker who can help negotiate on your behalf with lenders who are willing to consider applications based on your personal circumstances