Mortgage capitalization

[Fingat1]

Quick one. Mortgage 156k,arrears of 7,200. Cannot get credit. No savings. Is capitalization a good idea.
Thank you

 

[Brendan Burgess]

Quick answer: Yes. There is no downside to having your arrears capitalised.

The sooner you have it done the better as your ICB record starts curing from the date arrears are eliminated.

Long answer:

"Capitalizing arrears" explained