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  • FIRST POST
    • pmartin86
    • By pmartin86 12th May 18, 11:38 PM
    • 520Posts
    • 315Thanks
    pmartin86
    Mortgage Payment Reversed
    • #1
    • 12th May 18, 11:38 PM
    Mortgage Payment Reversed 12th May 18 at 11:38 PM
    Ill keep this short, due to an idiotic oversight on my behalf, the following events occured:

    Mar 1st: Mortgage payment due
    Mar 1st: Mortgage Payment Taken
    Mar 2nd: Mortgage Payment returned due to insuffiucient funds
    Mar 2nd: Heavily appologetic phone call and manaul payment made for amount due
    Mar 16th: DD re-requested, additonal payment taken

    I've checked all 3 credit files and all report green, can I assume I've got away with it and take the long term lesson of ALWAYS ensuring the account the payment comes from is well funded?

    (as an FYI, my payment is about 20% of my monthly salary, and well well within general affordbility, the reason for lack of funds was purely a lack of oversight on my behalf, i take full repsonsbility for this)
Page 1
    • Thrugelmir
    • By Thrugelmir 12th May 18, 11:53 PM
    • 58,490 Posts
    • 51,851 Thanks
    Thrugelmir
    • #2
    • 12th May 18, 11:53 PM
    • #2
    • 12th May 18, 11:53 PM
    There's a lag in the reporting of data. I'd be surprised if this wasn't recorded as a late payment.
    Financial disasters happen when the last person who can remember what went wrong last time has left the building.
    • Noobie2011
    • By Noobie2011 13th May 18, 9:35 AM
    • 216 Posts
    • 37 Thanks
    Noobie2011
    • #3
    • 13th May 18, 9:35 AM
    • #3
    • 13th May 18, 9:35 AM
    Ill keep this short, due to an idiotic oversight on my behalf, the following events occured:

    Mar 1st: Mortgage payment due
    Mar 1st: Mortgage Payment Taken
    Mar 2nd: Mortgage Payment returned due to insuffiucient funds
    Mar 2nd: Heavily appologetic phone call and manaul payment made for amount due
    Mar 16th: DD re-requested, additonal payment taken

    I've checked all 3 credit files and all report green, can I assume I've got away with it and take the long term lesson of ALWAYS ensuring the account the payment comes from is well funded?

    (as an FYI, my payment is about 20% of my monthly salary, and well well within general affordbility, the reason for lack of funds was purely a lack of oversight on my behalf, i take full repsonsbility for this)
    Originally posted by pmartin86
    It is not a certainty but I have found that a bit speaking to the right person and explaining the full reason for the issue can work wonders.

    At this stage I would maybe speak to them and advise of the stupid mistake and just ask if there is any possibility that it is not recorded as a late payment. They can as a goodwill do this for you if you want so lay it on the issue if this get recorded as a late payment.

    We are currently going through a mortgage process and I have to date successfully got 2 AR/Partial settlements and a late payment removed from accounts on a goodwill basis.
    • minimike2
    • By minimike2 13th May 18, 11:10 AM
    • 1,952 Posts
    • 1,480 Thanks
    minimike2
    • #4
    • 13th May 18, 11:10 AM
    • #4
    • 13th May 18, 11:10 AM
    As the payment was made 1 day late at the start of the month then it is very unlikely to be recorded as a late payment.

    Most lenders will only record it as late / missed if it is not received within the calendar month of it falling due.
    I am a mortgage industry professional. 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
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