Panicking. Mortgage Offer

Ging37

Offer in the post in 48 hours.

Now I realise today I have missed a payment on my Credit Card - 27 March.

Paid it but now I am in a panic about final credit checks before we complete. Is this game over????????

ACG

Possibly, possibly not.

If they dont do any credit checks then you will be fine - its unlikely they will but nobody can give you that guarantee.

If they do, then it will come down to whether they are showing on your credit reports and if they are how the rest of the case looks.

If i was a betting man, i would put my money on it being ok.

How much deposit do you have as a percentage?
Who is the lender?
Any other missed/late payments/

Ging37

5% mortgage, Joint with my partner who has a clean history. Lender is RBS and no other missed payments.

I am so upset and worried. Cannot believe I have done this!!!

Do they not necessarily do another check? Thank you for your reply.

Ging37

It isn't showing up on Experian yet,also

kingstreet

RBS Group is Equifax only.

Ging37

But if it isn't on Experian would it be showing on Equifax? And will they do another check. This is seriously ruining my day =(

kingstreet

Your credit card provider may supply information TO Equifax, Experian, or Call Credit or any combination of two, or all of them.

RBS Group only takes information FROM Equifax, so your issue is unlikely to have any significance if your card provider does not supply to Equifax.

No-one knows what your card provider will do, nor what your lender will do. You are just going to have to sweat until completion takes place and hope it's alright.

Ging37

Oh god, it's hell!

If they do check,will this one default mess the whole thing up???

ACG

Is it a default or a missed payment?

At 95% credit scoring is tight. So realistically IF your credit card updates the credit report AND IF RBS do another credit check then yes it could cause a problem.

There are a couple of ifs there so you would have to be unlucky for both of them to happen but it could. As kingstreet says, its going to be a nervous couple of weeks, just put it to the back of your mind, whats done is done there is nothing you can do about it. If it does get picked up, speak to a broker there will be a lender who is not overly concerned by it if its the only recent blip.

Ging37

Signed up to Eqifax. All good, nothing showing up on there....

Ging37

It's a late payment - due on 27th March, I have paid it now. Been so busy and forgot. Kicking myself!!!!