Mortgage direct debit bounced

abbas5001

Hi all

I accidentally missed my mortgage direct debit as I put money into the wrong account by accident like an idiot.

This has never happened to me before and I called bank of Scotland and asked them how I can make the payment, they told me my account looks up to date so it must not have come through on their systems which is a bit weird as the bank account and mortgage are with bank of Scotland. The advisor said they would automatically attempt the payment again within 10 working days but didn't seem so sure. Is this normally the case?

Also how damaging is this on your credit file?

Thanks

ACG

If it shows as a 1 on your credit report then its not great.

It will come down to when you want to remortgage/move house and whether you intend to stay where you are or switch lenders.

I would say if it shows as a 1 on your credit report your probably going to find it difficult for a good year or 2 (not impossible) and you may not have access to the best rates - unless you have a good level of deposit/equity.

Thrugelmir

abbas5001 wrote: »

Also how damaging is this on your credit file?

As it's your mortgage payment not good at all from an outside perspective.

MJP43

Personally I would make the payment immediately to avoid a potential late marker on my credit file rather than wait until they try to collect it By DR again

Goldiegirl

But then the risk is that the OP will make the payment, and then they'll try and collect the DD again, which would result in the payment being made twice, or if the money wasn't in the account, a missed payment fee would be incurred.

To be on the safe side, he'd need to cancel the DD, and set it up again for next month

amnblog

If the payment is covered in the same month it does not usually appear as missed on the credit file.