Code 1s on credit reports

Abigail1990

Hello, quick question... I have been lurking on these forums re. Mortgage applications and have read on a thread that lenders do not see late payments marked 1 on your credit report? Is this true?

Thank you

molerat

They do see them but tend to ignore the odd one or two 1s.

kingstreet

Late/missed payments are like everything else.

Likely to be an issue if regular and recent and combined with high loan to value and towards maximum affordability.

As they become older and loan to value drops and there is more affordability "headroom" they become less important.

Type of commitment may also contribute with some lenders looking less harshly on mail order, mobile comms.

Thrugelmir

What context is your question in? One, two, three, four , five or more.

Slipping up infrequently isn't a sin. Having late payments when there's obviously a level of financial duress is another matter.

Abigail1990

In total : 3 x status 1s on a now settled credit card (1 from Dec 2012, 1 from Jan 2013 and 1 from September 2014) -these were from being forgetful as I did not have a DD set up. 3 x status 1s on a now settled loan (1 from March 2017, 1 from June 2017 and 1 from Aug 2017), these were from ill money management. All of these late payments also have AA underneath , not sure what that means? If it matters we weren't planning on applying until around March 2019 so i was hoping an adequate amount of time would have passed for them to be treated less severely. Thank you

Abigail1990

Looking again, by the time we apply the two oldest ones will have dropped off so in effect there will be the 4 starting from the September 2014 one for the credit card and then the 3 from the 2017 loan.