Missed Payments & Remortgage

Brookelucy

I’d like to ask a question - due to cost of living crisis I have missed a credit card payment this month - I will be remortgaging in 4 years time (yes I’m a worrier) 

Before I remortgage I’ll have paid this credit card off fully and by next year 2023. 

I want to understand / intrigued that when I remortgage in 2026, I know the missed payment will be on my file. But will it really affect me that much especially if it’s also shown that I no longer have that credit card - and have paid it off fully back in 2023 and no longer use it? 

Any advice / previous experience would be great. 

K_S

@brookelucy One single 4+ year old '1' marker on a credit card account in your credit report should have no material impact on a mortgage application.

In the vast majority of mainstream cases, the residual impact (if any) of a single missed payment on an unsecured account would reduce significantly at the 6-12m mark and disappear completely by the 2 year mark.

Brookelucy said:

I’d like to ask a question - due to cost of living crisis I have missed a credit card payment this month - I will be remortgaging in 4 years time (yes I’m a worrier) 

Before I remortgage I’ll have paid this credit card off fully and by next year 2023. 

I want to understand / intrigued that when I remortgage in 2026, I know the missed payment will be on my file. But will it really affect me that much especially if it’s also shown that I no longer have that credit card - and have paid it off fully back in 2023 and no longer use it? 

Any advice / previous experience would be great. 

Edi81

A single missed payment can happen to anyone. 

If you are struggling the debt free boards may be a good start for ideas on where you could cut back further.