How long does a house repossession stay on your credit report UK

A home repossession will remain on your credit report for up to six years. During the period where your credit report is affected by a repossession, you’ll struggle to obtain credit. But if you manage to obtain credit, it would be on unfavorable terms. Which means if you manage to obtain credit, you’ll end up paying a higher interest rate, as you represent a higher risk. Banks and other lending institutions make lending decisions based on how great a risk you represent in terms of defaulting on a loan. The worse your credit report is, the greater the risk of default.