We’d like to remind Forumites to please avoid political debate on the Forum.
This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
The Forum now has a brand new text editor, adding a bunch of handy features to use when creating posts. Read more in our how-to guide
First time buyer, will 1 late payment affect my application
EvelynV
Posts: 3 Newbie
I've just been called by my credit card as I missed a payment, this has never happened before and the minimum payment was only £25 and I normally pay £150 a month, amount left remaining on card is £300.
My husband and I have a mortgage in principle only from our broker as we are looking to buy for the first time this year. The credit card company told me that this missed payment would go on my credit file. Before this I had seen my experian score and my credit history was 'very good.', no missed payment on anything. However now I have the missed payment on my file I'm worried we will be refused a mortgage. My husband has no missed payments or anything on his file and we both earn good salaries but have I ruined everything from 1 careless mistake?
Would paying off the final £300 left before getting a mortgage agreed help at all?
They also said I could phone Experian to have a note put on the mark as such that people would have to see when looking at my credit history, does this make much of a difference and what is regarded as a good excuse? I guess having a mortgage in principle doesn't change much. I'm so annoyed at myself I could cry!
Thank you for any advice you can give, esp if you are a mortgage adviser! xxx
My husband and I have a mortgage in principle only from our broker as we are looking to buy for the first time this year. The credit card company told me that this missed payment would go on my credit file. Before this I had seen my experian score and my credit history was 'very good.', no missed payment on anything. However now I have the missed payment on my file I'm worried we will be refused a mortgage. My husband has no missed payments or anything on his file and we both earn good salaries but have I ruined everything from 1 careless mistake?
Would paying off the final £300 left before getting a mortgage agreed help at all?
They also said I could phone Experian to have a note put on the mark as such that people would have to see when looking at my credit history, does this make much of a difference and what is regarded as a good excuse? I guess having a mortgage in principle doesn't change much. I'm so annoyed at myself I could cry!
Thank you for any advice you can give, esp if you are a mortgage adviser! xxx
0
Comments
-
A recent late payment will be an issue for many lenders at high loans to value.
If the LTV is lower, there should be a high street solution.
Does the conduct of this credit card appear on all three versions of your credit file?I am a mortgage broker. You should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice. Please do not send PMs asking for one-to-one-advice, or representation.0 -
Thanks Kingstreet, in regards to LTV our mortgage will be for around £230,00 and our deposit is £30,000. Our combined income is £81,000 per annum.
I've written to the credit card company to ask them to remove but haven't checked all 3 version of my credit file yet as they only called me about it this morning. How do I check all 3 versions? I have just viewed my Experian report in the past.
Thank you!0 -
So it's an 88% mortgage.
You obtain the other versions of your credit file from Call Credit/Equifax and see what's on them.I am a mortgage broker. You should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice. Please do not send PMs asking for one-to-one-advice, or representation.0
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 354.7K Banking & Borrowing
- 254.5K Reduce Debt & Boost Income
- 455.6K Spending & Discounts
- 247.6K Work, Benefits & Business
- 604.5K Mortgages, Homes & Bills
- 178.6K Life & Family
- 262.1K Travel & Transport
- 1.5M Hobbies & Leisure
- 16.1K Discuss & Feedback
- 37.7K Read-Only Boards