Worried My Mortgage offer will be withdrawn?!?!?!?!!?!?

ruggedtoast

nmillar87 wrote: »

I paid the payment a day early because I was trying to keep ontop of my bills because of the mortgage but didn't realise until the next month when I came to pay because my minimum payment was double and I was charged £12 so it is borderline 30days.
This is my first time buying a house, is it possible to exchange and complete on the same day???

Yes. Ask your solicitor. Be aware that they also work for your mortgage company so if you tell them why they will have to pass on the reason.

Stressful time but only you can decide what to do.

benjus

Have you asked Virgin if the late payment will actually be reported to your credit record? I've had something similar in the past, and IME if it is a genuine misunderstanding and is cleared up quickly, the credit card companies won't put anything about it on your credit file.

Mrstickle

I had a similar issue 12 months ago as I was applying for a mortgage. I had a missed payment on a virgin credit card due to assuming a direct debit was still active - the card had been dormant for a while and it wasn't, so the first I knew about it was when when I got the statement. I rectified it immediately and they refunded the late charge. I became concerned when I was about to apply for a mortgage so checked my credit files. It never showed as a late payment and my file was 'all green'.

ruggedtoast

Actually this also happened to me with Barclaycard. The DD had expired and the first thing I knew was a month later when I got an overdue charge. They refunded it and told me not to worry about it, it never appeared on my credit file.

Mortgage_Mark_2

If the survey hasn't been done yet, you can't have a mortgage offer. You have a decision in principle, but they WILL check you again when underwriting the full application. If you're lucky, then they may have already done this after submission but before the survey.

Or you might be lucky that it just isn't recorded as late/missed.

nmillar87

thanks for all the feedback. Just to let everybody know MBNA the company who runs virgin credit cards rang me today in response to my letter and have told me that because it is a genuine mistake and was paid within 30 days they will not be reporting it as late and will be going down as paid on time on my credit report!!
Iam so relieved, fingers crossed for the survey now then everything should be ok... Thanks again!

amiehall

Virgin I think are pretty reasonable on the whole. I had an admin issue with my OD which meant my CC payment bounced while I was away on holiday and I was about 2 weeks late in paying. I never informed them of the circumstances as my bank paid my fees for me but that never went down on my credit record as a late payment.

Good luck with your house purchase!