First time mortgage and credit rating please help!

Girlie89

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Hi, I'm new to all this forum business so hope I am putting this in the right place!
I'm a first time buyer, I have had a mortgage in principle last week and went ahead with the mortgage application with my mortgage advisor who has been brilliant. Along with my other proof of income etc I also printed off my credit score from Experian which was 980 something (rated as excellent) no late payments shown on that. These were all sent last Friday. I've logged onto my Experian account yesterday to see 2 late payments on two separate credit cards. I have paid these cards off last week anyway before I realised these late payments (one had a balance of £103 and the other was £654) but it has significantly affected my score as it has brought it down to 854 which is "fair". The mortgage would be for 85% as I have a bit over 15% deposit. It is with NatWest. Do you think this will seriously harm my chances of the mortgage going through? Also one of the cards has refunded the late payment charge as a gesture of goodwill as I have never missed payment before. Any help would be really appreciated.

ashp_2

Recent late payments do not look good at all. I couldn't say if it will be a deal breaker or not.

Girlie89

Thanks for the reply, surely I can't be the only one this has happened to!

[Deleted User]

No, you're not.

But that doesn't make it a good thing.

Girlie89

Anyone else had a similar experience please feel free to share

Candyapple

How late exactly were these late payments? If you're not in the habit of making late payments, you could contact the credit card companies and plead with them to a) remove the £12 late payment fee and b) to remove the late payment markers. Most companies if it's your first offence will oblige.

Keep us updated, hope it works out for you

Girlie89

Hi candyapple thanks for the reply! Only a couple of days, as soon as I realised I had missed the due date I paid them off in full! Before these I didn't have any. I have asked them both about taking it off my credit history and explained why, they both said they couldn't do that as once it had gone to the credit file there was nothing they could do! I have sent a printed copy of my credit report to the mortgage company, do you know whether they just look at the printed report I sent or if they actually log on and look themselves? I know I sound abit naive but I'm completely new to this and just anxious to know if it's all gone through! Maybe I'm just overthinking things...

Rothstein

The credit card companies CAN edit the info, you just need to hopefully get through to someone sympathetic, keep trying , it can be done , and it's very worthwhile as late payments affect your rating for 24 months

The mortgage company will do a full credit check themselves, your printed report won't be enough, they may be perfectly understanding of your situation and give you what you require, but in any event, getting them edited is very positive long term

kingstreet

Are these issues visible on Equifax the CRA used by NatWest?

If you are paying Experian for these alleged credit scores, stop as they are meaningless.

Girlie89

I've spoken to the other credit card today they have refunded the late payment charge as it was my first "offence"! Again I asked about removing it off my report they said they couldnt do it! I will just hold on and see what comes back from NatWest. I should hopefully hear from them this week! Just hope the person looking at my application had a lovely weekend!!
Kingstreet I'm not sure as it is Experian I have used. I had their 30 day free trial. So is it Equifax NatWest use?

kingstreet

Yes. That's right.