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anyone know about mortgage approvals - effect of one late payment on credit rating??

(10 Posts)
10thingsihateaboutpoo Sat 15-Mar-14 18:56:46

We are house hunting at the moment so could be applying for a mortgage hopefully in the next few months...

Ordered our £2 credit checks expecting them both to be fine. Virgin b**tsrd Media have put that we paid a month late for one payment! This is wrong - we called to cancel our contract when we moved into rented and sold our house, they confirmed it was fine to cancel our direct debit ad we were actually due a refund. So we did, but then received a bill for £48, which we instantly paid. But they've put this £48 down as being paid latd (presumably because we cancelled the DD).

Argh!! We can't speak to the right department at Virgin until Monday, but worst case scenario if they refuse to change it what will that mean for our chances of getting our mortgage? We have a large deposit and aren't going to borrow the full amount we could based on earnings.

10thingsihateaboutpoo Sun 16-Mar-14 17:40:29

Hopeful bump :-)

TeenageMutantNinjaTurtle Sun 16-Mar-14 17:44:24

I'm not an expert but I had one late credit card payment on my credit report and it made no difference to our remortgage. I think you'll be fine...

TequilaMockinBird Sun 16-Mar-14 17:47:19

It may depend on the bank but I had 2 late payments on my credit file and 95% mortgage went through fine.

I wouldn't worry about it.

10thingsihateaboutpoo Sun 16-Mar-14 17:51:13

Thank you both that's a relief! :-) i had nightmares of findingca lovely house then losing it because of the late payment

MuttonCadet Sun 16-Mar-14 18:00:07

It's best to get it removed if you can.

10thingsihateaboutpoo Sun 16-Mar-14 19:02:59

Yes mutton we will do, i'm just not sure of our chances as we're not convinced virgin will be rushing to help

MuttonCadet Sun 16-Mar-14 19:13:20

I had 2 mortgage providers refuse us for a single late payment that was due to a DD error.

I had it removed as soon as I found out and that resolved the issue.

fedupandfifty Tue 18-Mar-14 19:19:22

I've just had a re mortgage application turned down because the debt on my original mortgage failed to clear in time and was classed as an outstanding debt. I've got an ok score despite this, and now need to clear the debt and wait 6 months before applying again. Gutted!

Nomama Sat 22-Mar-14 20:01:28

Put a request for removal/clarification into the credit agency - there is usually a report button easily visible on each report.

It should be fine, single late reports aren't usually fatal.

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