Accidental late/missed mortgage payment

lewprosser

Hi Guys,

I am so annoyed I missed my mortgage direct debit by as I put my wages into the wrong account by accident and only just got a direct debit unpaid letter from Natwest

This is the first time I have missed a payment for anything in my life and am wondering what the consequences will be for this 1 small mistake which I will be paying off tomorrow when they open as they shut at 5.30pm.

Is there anything I can say or do to help this not affecting my credit score to badly as I was hoping to move in the near future.

Thanks in advance

Lewis

Hanky_Panky

Assuming you do pay today then I would not worry at all. Typically you have a 'number' of days beofre the account would get reported as being in arrears anyway so as long as you pay beofre you will be ok. Even in the event that it does get reported 1 missed payment in an otherwise unblemished record will not hurt you.

_Andy_

Hanky_Panky wrote: »

Assuming you do pay today then I would not worry at all. Typically you have a 'number' of days beofre the account would get reported as being in arrears anyway so as long as you pay beofre you will be ok. Even in the event that it does get reported 1 missed payment in an otherwise unblemished record will not hurt you.

On the contrary, a missed mortgage will have a significant effect and the OP can forget about high street lending for the forseeable

kingstreet

I agree. A quickly made-up late payment might not even show, but a missed one will leave a constant line of "1s" on the credit account file entry until the account is brought up to date.

Hanky_Panky

_Andy_ wrote: »

On the contrary, a missed mortgage will have a significant effect and the OP can forget about high street lending for the forseeable

My apologies for the confusion - what I meant was one '1' and the rest all '0' would have little or no effect - I certainly didn't mean leaving that one payment outstanding all the time.

lewprosser

Thanks for the advice guys made the payment today and it will go down as a late payment rather then a missed payment. So annoyed with myself I normally have a buffer for this but I had just paid for a car service.

GMS

Hanky_Panky wrote: »

My apologies for the confusion - what I meant was one '1' and the rest all '0' would have little or no effect - I certainly didn't mean leaving that one payment outstanding all the time.

Having 1 missed is a disater in the current climate. Lenders are refusing loand for the smallest indiscretion. Missing a mortgage payment gives them all the excuse they need.

_Andy_

Hanky_Panky wrote: »

My apologies for the confusion - what I meant was one '1' and the rest all '0' would have little or no effect - I certainly didn't mean leaving that one payment outstanding all the time.

the fact remains that if it's recorded as a '1', it will have a huge impact. Arguably a credit card payment might not so much, but a missed mortgage is (quite rightly) a huge deal and they can definetely forget mainstream lending for a while

kingstreet

lewprosser wrote: »

Hi Guys,

I am so annoyed I missed my mortgage direct debit by as I put my wages into the wrong account by accident and only just got a direct debit unpaid letter from Natwest

This is the first time I have missed a payment for anything in my life and am wondering what the consequences will be for this 1 small mistake which I will be paying off tomorrow when they open as they shut at 5.30pm.

Is there anything I can say or do to help this not affecting my credit score to badly as I was hoping to move in the near future.

Thanks in advance

Lewis

So how long is the gap between the due date and the manual payment you've made?