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Late catalogue payments effect on applying for mortgage?!
Onamissiontoreclaim
Posts: 2 Newbie
Firstly I'm a first time poster so please forgive me if I'm posting in wrong forum etc!
I've finally found myself in a position financially to increase our mortgage, ie have paid off credit card,overdraft and two catalogue balances I just have a small amount on a loan left to pay! Now here's the problem, having never checked my credit file until now I stupidly have a late payment showing on one of the catalogues, this is purely due to being unorganised and not setting up a DD! All other credit commitments are paid by DD (and over payments )and on time! I know this is my own fault and believe me have learnt a lesson!
Question is will this likely stop us increasing the mortgage? Currently we have approx £30,000 left on a mortgage and would like to borrow £120,000 to look at houses around £220,000 estimate approx £100,000 deposit from sale of current home!
Also would a broker be best or try through current lender?! Many thanks in advance for any advice!
I've finally found myself in a position financially to increase our mortgage, ie have paid off credit card,overdraft and two catalogue balances I just have a small amount on a loan left to pay! Now here's the problem, having never checked my credit file until now I stupidly have a late payment showing on one of the catalogues, this is purely due to being unorganised and not setting up a DD! All other credit commitments are paid by DD (and over payments )and on time! I know this is my own fault and believe me have learnt a lesson!
Question is will this likely stop us increasing the mortgage? Currently we have approx £30,000 left on a mortgage and would like to borrow £120,000 to look at houses around £220,000 estimate approx £100,000 deposit from sale of current home!
Also would a broker be best or try through current lender?! Many thanks in advance for any advice!
0
Comments
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One late payment shouldn't cause an issue.0
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Thank you that's reassuring! Been reading up on here and appears lenders are getting very strict on these things! I guess there is only one way to find out and end the worrying!0
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