Are our chances now scuppered?

Lokibear

We are looking to buy soon, we are tenants and are about to move into somewhere a bit cheaper for 6 months for a final push of savings. Stupid new letting agent charged us twice for the fees pushing my account into an unauthorised overdraft. I have now transfered more money into to correct this but when I spoke to my bank they told me its def going to be noted on my credit files, and I'm gonna be charged fees. I called the letting agent and theres nothing they can do until tuesday (no one even in, only the saturday boy), I emailed the manager stating the situation. I just feel like they've trashed my credit file now.

Nows the difficult part, is there any point to us moving to a bit of a !!!!-hole? Are we actually going to be able to get a mortgage now? We need to make a decision as we are meant to be moving in less than a week. If we're not going to be able to get a mortgage (or only one thats got such a high APR that we would be able to afford it) theres no point us moving into this new place, we should be looking to find somewhere we can make a home instead.

We would have a 10% deposit, my credit file (apart from this) is totally clean, no issues with missed payments or anything, no defaults, no ccjs. My partner has a bank account that he was over for a few months when they took his student overdraft away back in 2010 - 2011 (would be about 4 years past by the time we would want to buy), but clean also apart from that.

We want to start a family in the near future, but we wanted to get a mortgage first. I feel like everythings now been turned upside down

dgtazzman

A single blip like this shouldn't have much of an effect, especially 6 months down the road. It's far from a ccj, default or bankruptcy.

If you got your account out of the overdraft fast enough and pay the fees, it might not make it to the CRA's anyway. My wife went into an unauthorized overdraft due to a company making a payment error just before we were going to put in a mortgage application. Got the account out of the overdraft same day, phoned the bank and was told they would only report it to the cra's if the account is overdrawn for an X amount of time. True to their word, her file remains clean and we got our mortgage.

BeauLiLuLu

You can ask the for a notice of correction on your credit file?

Pixie5740

It sounds as though the money was taken in error by the LA. How did they take the money? Debit card, direct debit...? If you went overdrawn due to someone else's payment error then you might be able to get notice of correction on your file. You could also challenge the payment with your bank, I've done it before (successfully) on a duplicate debit card transaction.