Help - About to apply for mortgage with late CC payment due to failed direct debit!

SecondBuyer

Hi all – Long time lurker but first time poster. Background is that I am looking to apply to port my existing Nationwide mortgage across to a new property and extend with a new product after an offer was agreed on my property last week, as was an offer for us to buy another place.

Unfortunately – and I accept it’s all my fault - I found out this morning that this month’s payment on a post office CC didn’t go out as there is no direct debit set up. I was sure that I did it, but I always pay manually in full so it’s never been tested before. This month I forgot to pay but didn’t worry about it as the DD would sort it.


So, having read lots of horror stories on here I’m suspecting I may be royally stuffed. I need to apply for the new mortgage this week or next and it’s likely that there’ll be a nice yellow [1] with my name on it coming soon.


I’m looking to borrow on a 340k property with 70k deposit; Credit scoring all green (for now) - Noddle 5, Equifax 500, Experian 999 though I know this is meaningless; been over paying my existing NW mortgage by about 1k per month for some time; will have about 50k savings left after the 70k deposit above; only other late payment has been April 2010 on the same card; affordability criteria within limits (salary 62k, no debts except 3.5k on a 0% CC that I could pay off if it makes a difference to getting accepted)


Anyone have a feel for whether I should pursue NW or find something else through a broker? Or am I just royally stuffed now? Thanks in advance for any advice!

happy_bunny_2

Have you called PO to apologise and ask if it will be reported late?

Some companies report late after a day, some give until next statement date and some give you 30 days.

SecondBuyer

Yes - I need to call them back tomorrow morning and speak to the customer care team who may be able to do something with it.

There are no marks against me yet (checked yesterday), so I need to ask them to hold back with any unfavourable updates if possible...

Cheers!

:beer:

daviduk1976

I had a dd prob with post office. The lovely people removed it. but it took 28 days to come off my credit report. Hope this helps.

SecondBuyer

Thanks - Hopefully I'll catch it before it goes on in the first place.

SecondBuyer

Quick update on this one -Post Office were very helpful and have agreed to refund all charges and correct any late markers now that it's been cleared. :T

One thing I didn't know is that 'fall back' direct debits for clearing the minimum payment can be cancelled if not used - Mine was set up in 2010 and has never been activated so well worth periodically checking!

bengal-stripe

SecondBuyer wrote: »

One thing I didn't know is that 'fall back' direct debits for clearing the minimum payment can be cancelled if not used - Mine was set up in 2010 and has never been activated so well worth periodically checking!

Direct Debits, if not used, will automatically be cancelled after 13 months.