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Is this a bad credit report???

lisajane12345
lisajane12345 Posts: 18 Forumite
in Credit file & ratings
Is this a really bad credit record which will possibly stop me from getting a mortgage?

I don't know if the below are classed as serious defaults or if they are looked upon with leniency by mortgage lenders?

aa8045.png

Please note the missed payments in april/may 2014 are in the process of being removed.

Thanks

Comments

  • Sparx
    Sparx Posts: 909 Forumite
    Part of the Furniture Combo Breaker
    All I can see are 5 missed payment markers, no defaults? I wouldn't say they are a major issue, but will be frowned upon by some very tight lenders.
  • lisajane12345
    lisajane12345 Posts: 18 Forumite
    So these missed payments are not as bad as the defaults people talk about on these forums? I thought these were defaults. So do these missed payments not negatively impact an application as much as defaults? Anyone have any ideas of which lenders may overlook a few missed payments?
  • thebritishbloke
    thebritishbloke Posts: 1,472 Forumite
    No they're not defaults, they're just late payments. If you missed 6 months of payments, they'd turn into defaults.

    Hard to say which lenders will/won't care. AmEx are very strict. Others will probably accept you but give you a slightly lower limit, others won't care etc.
    Credit 'Score' - Don't buy the credit 'score' that Experian, Equifax and Noddle want to sell you. It's an arbitrary number that means nothing when it comes to applying for credit.

    ALWAYS HAVE A DIRECT DEBIT SET UP FOR THE MINIMUM PAYMENT ON YOUR CREDIT CARDS, REGARDLESS OF WHETHER YOU PLAN TO LOGIN AND PAY EACH MONTH.
  • Candyapple
    Candyapple Posts: 3,385 Forumite
    Part of the Furniture 1,000 Posts Combo Breaker
    lisajane12345 wrote: »
    So these missed payments are not as bad as the defaults people talk about on these forums? I thought these were defaults. So do these missed payments not negatively impact an application as much as defaults? Anyone have any ideas of which lenders may overlook a few missed payments?


    You would need to ask a mortgage broker that question as you've had 2 months of missed payments from only a few months ago.

    Do you have a larger than normal deposit? Some lenders may require this in order to overlook any descrepencies.
    I'm a Board Guide on the Credit Cards, Loans, Credit Files & Ratings boards. I'm a volunteer to help the boards run smoothly, and I can move and merge threads there. Any views are mine and not the official line of moneysavingexpert.com
  • On_my_way
    On_my_way Posts: 405 Forumite
    Fifth Anniversary 100 Posts
    I didn't realise that defaults are only normally as a result of 6 or so missed payments. That's interesting. I thought it could happen much faster than that.
  • Tixy
    Tixy Posts: 31,455 Forumite
    On_my_way wrote: »
    I didn't realise that defaults are only normally as a result of 6 or so missed payments. That's interesting. I thought it could happen much faster than that.

    It can in some cases happen quicker than that.
    Unlikely to have a default recorded on your credit file for less than 3 months missed payments, unless you enter an insolvency agreement or possibly if you enter a DMP.
    A smile enriches those who receive without making poorer those who give
    or "It costs nowt to be nice"
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