Random missed payment may affect mortgage application

KatieDee

Hello everybody,

A few weeks ago, I applied for a mortgage and everything went through fine. My offer was sent through in January and is now sitting with our solicitor. I am well aware that until completion, the bank are able to withdraw their offer at any time.

I've just logged into my Experian account and my score has dropped by about 170, reason being a missed payment to Ousba, dated 09/02/14.

I would hold my hands up, only the outstanding debt was cleared at the beginning of January in full and in addition, one extra monthly payment was taken from my bank as I forgot to cancel my standing order (this was quickly refunded).

So here I am, having cleared the outstanding amount, with a late payment marker on my account. I cannot understand how this happened, especially as I specifically requested that my credit report be updated immediately on payment on account.

It was showing as settled shortly after I had paid it, but is now showing as "payment late".

I am absolutely terrified that my mortgage offer will be withdrawn if they do another credit check on me before completion. I have sent an email to Ousba but what can I do if they withdraw the offer?!

The_Boss

Are there any other late payment markers on your file?

Hazzinho

I'd be surprised if one missed payment on a settled account impacts you that much, some lenders might be picky. Don't think anyone can really advise with 100% confidence.

The_Boss

Hazzinho wrote: »

I'd be surprised if one missed payment on a settled account impacts you that much, some lenders might be picky. Don't think anyone can really advise with 100% confidence.

I agree on both counts. We can't confirm if one would result in rejection and it would be harsh. But we need the OP to confirm whether this is the only late payments as their post suggests.

KatieDee

The_Boss wrote: »

I agree on both counts. We can't confirm if one would result in rejection and it would be harsh. But we need the OP to confirm whether this is the only late payments as their post suggests.

Thanks for your response. I had some late payments before this, but we have a high deposit and a good income so the mortgage was agreed and the offer sent.

The missed payment came a few days ago but my problem is that there was nothing to pay late on as I had cleared the account. Even if there was an issue afterwards with their admin, an additional payment left my account shortly after I'd cleared it.

They changed it to settled, then changed it back, then I emailed them, they apologised and changed it back and now it has changed back to saying I owe money, only now it has caused this late payment.

I haven't had any other late payments for a long time, although they are on my account and the mortgage provider was aware at the time of offer. My credit score (although I appreciate irrelevant with the vast majority of lenders) has actually improved since the original credit check and offer was made. It's still higher than it was when they made the offer BUT as I said, I know they look at late payment markers and not the score.

I am terrified...it's not even my fault!

Ging37

What happened? I am currently in a similar boat =(