Late Payments & Credit Scores

Rawlo

Hi,

I'm a new user and need some advice!

I've just been declined a mortgage because of 3 missed payments in Sept, Oct & Nov 2010 with my current lender.

When I contacted my current lender for information and explained that these DDs were not unpaid, I paid them when the DDR was re-collected and have bank statements to prove it, they said that "because my DD collection date is the 28th of the month when they re-collect (after 5 working days) it is paid in the following month and therefore on Equifax it is showing as unpaid and I was unlucky!!!!".

If my DD collection date was on the 1st of the month, unpaid, and then re-collected on the 7th, equifax would show as paid???

How can I amend my rating as I am being disadvantaged because of my DD due date?

I paid the payments and the late payment fees.

Can anyone help please?

The_J

I'm not 100% on the mechanics of credit scoring but I'm fairly sure that if there were any late payment fees it would go on your file as a missed payment.

The people at the bank were probably trying to be kind because saying "It's not hard, just pay your mortgage when we have specifically asked you to" isn't very nice.

Who is the mortgage with?

Dave_Ham

Who did you get declined with; HSBC or First Direct?

Rawlo

Hi, thanks for your responses.

My current lender is Mortgage Express (part of the Bradford & Bingley Group).
The loan I was trying to get was with a specialist lender as it is a Buy To Let Ltd Company product.
Does this mean I will forever be tarnished in terms of credit rating with equifax?
My credit report states late payment, not missed.

Thanks again

Thrugelmir

Rawlo wrote: »

Does this mean I will forever be tarnished in terms of credit rating with equifax?
My credit report states late payment, not missed.

Thanks again

Until six years is up, then yes.

Failure to pay on the due date is a late payment.