The best filler for your siding is a two part epoxy product that cures to a rock hard consistency.
Best thing to use on peeling wood siding.
Honestly this stuff is incredible.
As long as the remaining edges of the peeling area are stable this solution will work.
Pull out loose nails and renail using stainless steel siding nails.
The same paint that peels in some spots will stick tenaciously for 40 to 50 years in other spots.
Simply use a stiff bristle non metallic brush to remove all surface dirt dust and loose wood fibers.
Latex paints are the industry standard for most exterior house painting and they continue to improve.
Just look at the same trim after one coat of the primer and zero scraping or sanding.
With low vocs this water based binding primer is three times thicker than regular primers and locks down and hides peeling weathered surfaces to create a smooth white finish for your top coat.
Be sure to remove any caulk where the siding overlaps as old houses need to breathe.
Fill any dents and holes with either a wood or epoxy filler.
1 scrape all loose paint from around the area to be repaired using a paint scraper or putty.
When peeling or chipping paint is found in a small area you may be able to simply brush off the peeling paint then prime the wall and paint over it.
Peeling paint is rarely caused by bad paint.