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AIBU?

Late credit card payment - mortgage application

1 reply

Lemonyfuckit · 01/02/2024 00:25

We are applying for a mortgage. We both previously had excellent credit scores, and everything was fine on the soft search, and affordability checker all fine. Email from the broker this evening that the AIP was declined - it turns out I have a missed payment on a credit card from last summer. It's a complete (and completely and utterly stupid) administrative oversight on my part, I don't have a direct debit on that particular credit card (god knows why I hadn't set one up) but I always make my payments on time except this one time for some ridiculous unfathomable oversight on my part - and from looking at my statements looks like I was one full billing cycle late. Am panicking have completely screwed our chances of getting a mortgage (or at least completely shafted the rates we'll get) - is there anything to be done?

OP posts:
IchWill · 01/02/2024 00:53

I suggest you sign up to the credit reference agencies, Exquifax, Experian and TransUnion. All offer a feel trial I believe, but you need to enter your card details and remember to cancel the memberships as soon as you have your credit reports downloaded.

Then check to see if any of them don't show your missed payment. I say this, as not all lenders report to all credit reference agencies.

This was the case with me when trying to a get a credit card a few years back. One of the agencies didn't have the one missed payment on my credit file.

I can't recall which one it was, but let's say it was Equifax. I then searched on Google what what lenders use which of the credit reference agencies.

Found a credit card from a lender which only used Equifax and applied for it and was approved.

Also, speak to your broker for more advice. That's their job.

Good luck.

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