Effect of missed mortgage payment

moatmeister
moatmeister Posts: 322 Forumite
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in Mortgages & endowments
I was unable to make my mortgage payment due 28th april on time due to cashflow issues. I have the money available to pay it now but this month's payment falls due on Monday 2 days time. Which is the least worse option. Pay this month's on time and then catch up with the previous month or pay last month's and then probably be late again this month?
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Comments

  • zaax
    zaax Posts: 1,910 Forumite
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    You need to talk to your mortgage provider ASAP - which you should have done when you thought you were going to miss a payment.
    Do you want your money back, and a bit more, search for 'money claim online' - They don't like it up 'em Captain Mainwaring
  • Browntoa
    Browntoa Posts: 49,298 Forumite
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    I'd ring my lender about last month's but pay this month on time.

    https://www.fool.com/mortgages/2016/12/10/what-happens-if-you-miss-a-mortgage-payment.aspx

    I'm assuming 2 late payment is worse than one . Are your finances likely to straighten themselves out so you won't be behind each month ?
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  • moatmeister
    moatmeister Posts: 322 Forumite
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    Finances will get better but maybe not instantly. Waiting large incoming payment. Drowning in expensive cred card debt but with large equity in house that I can't access
  • Thrugelmir
    Thrugelmir Posts: 89,546 Forumite
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    Better to make arrangements with your credit card companies rather than defaulting on your mortgage payments.
  • John_Jones
    John_Jones Posts: 208 Forumite
    moatmeister wrote: »
    Finances will get better but maybe not instantly. Waiting large incoming payment. Drowning in expensive cred card debt but with large equity in house that I can't access
    Why can you not access it, is a sale not possible?
  • RADDERS
    RADDERS Posts: 241 Forumite
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    If you can pay an amount that covers the payment that was missed plus an extra say £50 as you will not be a full months payment in arrears, this should not be reported to the credit agencies.
  • Carrot007
    Carrot007 Posts: 4,534 Forumite
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    Thrugelmir wrote: »
    Better to make arrangements with your credit card companies rather than defaulting on your mortgage payments.


    100% this. Paying credit cards over your mortgage is stupid.
  • enthusiasticsaver
    enthusiasticsaver Posts: 15,566 Ambassador
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    You should never prioritise your credit cards over your mortgage. Paying your mortgage over a month late and then not being able to meet this months payment either will seriously affect your credit record.
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  • moatmeister
    moatmeister Posts: 322 Forumite
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    I looked at it this way. I have struggle to keep up with the payments for ages in the vain hope I might be able to get a remortgage and this is the first time one has been late. £1000 available to cover 1x £1000 mortgage payment or 5 x £200 cred card minimum payments. Credit file looks better with just one late payment marker for mortgage rather than 5 late payment markers for cards
  • amnblog
    amnblog Posts: 12,430 Forumite
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    Get yourself some sensible advice if you are struggling.

    You should not be putting your home at risk by missing Mortgage rather than unsecured credit payments.

    A good place to start is the Citizens Advice Bureau.
    I am a Mortgage Broker

    You should note that this site doesn't check my status as a Mortgage Broker, 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.
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