mortgage missed payment advice...

sparky1981

Hi, I'm looking for advice on mortgage payment defaulting if anybody has ever done this before??

I basically set up a standing order for my mortgage payment because Northern Rock will not accept a direct debit on any other day of the month apart from the 1st. (I didn't want this set up on the 1st because it would be the day after I got paid and I would't have time to transfer it over to my house account)

Anyway my first standing order came out of my account and I checked that it had left ok, which it had. I then checked my account 5 days later and went away for 2 weeks with limited internet access.

During this time NR returned the payment to my account because it didn't have my NR account number as the reference. They never told me to put the account number as a reference and I assumed my name would be enough for them.

This made my payment late (by three days) and has put an irreversable default payment on my credit file.

The questions I have are:

How will this affect my chances of re-mortgaging in 4 months time?

Is there anything I could do by way of compensation from NR?

Or was it fully my fault as I have always payed everything by way of direct debit and it is a KNOWN fact that the reference is the mortgage account number on a standing order?

Any feedback would be amazing, cheers!!

getmore4less

Well it is a well know fact you need more than a sort code and account No to get ALL payments (SO or DD) to the right place mortgages and utilities being common ones.

How old is this late payment?

_Andy_

sparky1981 wrote: »

During this time NR returned the payment to my account because it didn't have my NR account number as the reference. They never told me to put the account number as a reference and I assumed my name would be enough for them.

With the thousands and thousands of mortgages they have?

The questions I have are:

How will this affect my chances of re-mortgaging in 4 months time?

You will be looking at higher interest rates than the normal banks/building societies.

Is there anything I could do by way of compensation from NR?

No as they haven't done anything wrong.

Or was it fully my fault as I have always payed everything by way of direct debit and it is a KNOWN fact that the reference is the mortgage account number on a standing order?

Kind of, yes. I think at least (with hindsight) you could've called NR to confirm how to set it up.

CLAPTON

you need to check your credit records... at worst it should only show a late payment and not a default

stebiz

CLAPTON wrote: »

you need to check your credit records... at worst it should only show a late payment and not a default

Agree entirely. I have never heard of a default being shown on a mortgage account before, for being a couple of weeks late.

Stebiz

_Andy_

It won't be a default it shows, it will just show as missed.