Will arrears on my mortgage affect me moving house and getting a new mortgage?

They may effect your credit rating but if you are borrowing less than before and reducing your repayments then it shouldnt be a problem.

Your arrears will be cleared when you move so it wipes the slate clean.

Good Luck

as long you have cleared the arrears and have made regularly payment for 3-6 month without missed payments, you should be okay to get a mortgage with good rate.

Yes, very much so. How is another lender going to trust that you will pay them since you haven't paid the first one. Credit ratings will determine what you pay in interest. From what you said, I don't see a logical way for you to qualify for another loan. your problems with staying current on your payments do not go away. Fix what is wrong with your current financial situation before you try a more expensive interest rate. Your financial problem will stay on your record for many years to come. Contact a free financial counselling to help you get your get out of debt and start saving.

different mortgage solutions exists, I have outlined some below

(I would also suggest you read : http://umgarticles.atspace.com/mortgage.htm)

Pension Plan
Using a pension plan to accumulate the balance of your mortgage is a tax free saving scheme. The balance of your house will be saved over a period of time until you can pay your final balance. If you do intend to use a pension fund to save for the balance of your house, consideration should be taken into account to open another pension fund for retirement purposes too.

ISA Plan
With an ISA plan you invest in stocks and shares via an Individual Savings Account (ISA) - which is a tax-free method of saving. This method of saving may not be suitable for most borrowers. Before considering this option you should consult with an independent financial adviser.
Endowment
An endowment is still the most common type of interest only mortgage which also provides life assurance cover and a fixed payment for investment. The endowment policy along with the interest only mortgage should in effect end at the same time, leaving you with the ownership of your home and nothing to pay. Endowments have undergone much criticism; this is due to investors being promised high returns from their investments. However lately this has not been the case, borrowers have found their investments have been as good as expected and a shortfall in the end amount of invested cash will not match the amount owed on the current property.
Taking into account the recent problems that have arisen regarding endowment policies it is worth remembering that returns on endowment policies have been pretty good, however you do need to see the term out in full. Also endowments do provide life assurance as part of the actual policy, so in the unfortunate event of a death the mortgage balance is paid in full.
Advantages of an interest only mortgage
вЂў Your investments and savings could accumulate more than the required amount to cover the final payment; this could leave you more cash for your own personal use.
вЂў Some plans have good tax benefits and help reach the required amount it a quicker and cheaper rate.
Disadvantages of an interest only mortgage
вЂў In the unfortunate event of your investments not acquiring the designated amount of cash to cover the loan repayment, the investor could face a shortfall which they will then need to pay. If you are worried about a shortfall on your investment, you should keep in touch with your investor and request regular updates on the situation of your endowment. If the worst comes to the worst, you can increase payments to compensate for the loss of investment.
вЂў Cashing in your endowment, ISA or pension could have adverse effects on the amount of money you have saved over the past however many years. If you do decide to cash in any existing policies you may be subjected to a penalty, this could be a cash amount specified by the investment company/lender. Please seek professional advice if you are worried about the end results of your finances, donвЂ™t be too hasty as most policies accumulate more of the cash in the final year

for a complete informational package I suggest you visit one of the many mortgage informational sites the best free one in my opinion is :

also read http://umgarticles.atspace.com/mortgage.htm

most definatly you will incure penalties which will cost more money.

Your credit report will show your performance.New Mortgage may be difficult.

Late payments will appear on your credit report. You may still be able to get a new mortgage, but you will end up with a higher interest rate than if you had no late payments.

Depending on how your overall Credit score looks. You wanna be in the 700s for the best rates. If you have a couple slow pays, and thats it, Im sure it wont effect the overall decision of the loan, but more of the intrest rate at which you will be paying.

Yes, arrears affect. FORECLOSURE RUINS (don't get foreclosed upon). Put your house on the market AT ONCE. Go to a lender or Mortgage broker NOW, and get the loan process started. You'll be situated in your new place in the next 30 - 60 days. Don't sell your home to anyone or any company that advertises "We Buy Homes". What they REALLY mean is... :We Buy Homes At A Deep Discount, Then Immediately Sell It For Profit Because The Homeowner We Bought It From Was Stupid, And We Simply Played On Their Emotions".

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