Excellent credit score on Equifax (but missed payment previously)

cmf87

Hey guys,

I have just got an Equifax credit report and it shows 'excellent' with a score of 500. Initally I was over the moon :j

Having looked at the report in more detail it shows some late payments
2 in 2011
2 in 2012
1 in 2013
(3 of them whilst I was travelling I was stupid and didn't set up a DD and forgot payment dates duhhh)
They all have the marker 1 on them.

In the past few years I have worked hard to pay any debts off and now have 0 debt and everything is up to date. The report seems green in every other part e.g.: electoral roll, court info etc apart from those late payments which are showing as yellow (fair) It says there has been 24 months since any late payments.

I am currently applying for a mortgage- the credit check went through fine at AIP and full application and I was only asked for 3 pay slips to prove income.

Will these late payments trip me up somewhere along the line?

Malmo

Has the lender already approved the offer following full application?

Ebe_Scrooge

Your credit score is meaningless - lenders won't see it. What's important is your credit history, and each lender has their own criteria as to what they're prepared to accept.

As Malmo says, the only way to find out is to see what the lender says when you make the full application. Many lenders will not worry too much about a couple of late payments if everything else is squeaky clean ( no outstanding debts, no CCjs etc. ), which it sounds like is the case in your situation.

But no-one here can say for certain - apart from anything else, what's OK in one lender's eyes will be a no-no to another lender. They all have their own internal policies as to what they'll accept and what they'll reject.

andyfromotley

It appears, anecdotally, that most lenders are ok with some late payment markers on your file, but as ebe says each lender has their own scorecard for each product they offer. One or two rarely seems to present a problem, with 5 you may be becoming borderline.

However another fine example of why Credit Scores offered by the CRAs are a total nonsense. If they had any meaning how on earth could your 'score' be perfect with 5 missed payments on it?