Using Mortgage Credit Effect Credit File

weapon90

Hi, I have a house and a mortgage with NRAM, the house is on the market and is empty, I have around £4300 in credit from overpayments and they told me recently that I can use that credit for a few months rather than make payments on the account, I can't have an actual payment holiday as the house is empty. A lady I spoke to said my credit file would show there was no payment received for every month I don't pay, I asked her if this would give me adverse credit and she said she didn't know. Can anybody advise please?

weapon90

Anyone help?

Tixy

Tough one to answer.

I would expect it would show as no payment due / no payment made, which would usually be recorded as a 'U' marker - which is a neutral marker and shouldn't be viewed as a negative.

But I would definitely get confirmation from them that it won't show as a payment due having been missed before you risk this strategy.

If you are hoping to apply for a new mortgage very soon after i.e. once you have sold your house it may raise concerns over affordability of a new mortgage (i.e. them asking why you didn't pay those months /could you not afford it etc)?