Missed Payment Letter

My husband switched current account last month and got all DD switched over etc (was told all OK by bank), only to arrive home on Thurs to letter from BOI that mortgage payment not received and if in difficulty best to communicate etc. We didn't miss it, it didn't go through and there was a timing issue with paperwork, new bank signed DD to switch over from 1st Nov but BOI didn't receive notification until after that so missed payment.

The letter says number of months in arrears = 1. Husband rang BOI to ask what problem was, she explained above and he said worried about credit rating. She said if pay by laser before 30 days from mortgage due date it won't go on credit rating, is this true? I want a letter off bank to say no mark on credit rating has been applied, they were quick to issue above letter, I now want a letter to say all OK and lack of communication in banks not our fault.

Is credit rating OK you think? Thanks

This happened to me twice – though not with BOI. In my case the mortgage didn’t go out as the money to fund it had not been lodged there by my employer. The first time the bank manager contacted me to highlight the problem and on the second occasion I contacted them – in both cases the issue was resolved within one working day.

The bank reassured me that I had nothing to worry about re my credit rating and I checked it recently (for something else) and there were no negative marks on it. You can ask the bank for a letter but I think they may be slow to give it, maybe they wont. However, if my experience is anything to go by you don’t have anything to worry about. It sounds like the letter they sent was a generic one that is automatically issued as soon as there is a missed payment. However, I do understand your concern, I got a shock when the bank manager rang me the first time round.

As far as I know lenders don't always automatically report a single missed mortgage repayment to the ICB especially if the matter is rectified promptly. I suspect that they only do it after a number of reminders have been issued (up to and including a final notice) or a number of repayments have been missed. If in doubt even after the lender has reassured you that this will not happen in these cases you can always request your ICB records and check for yourself. However I don't know what the time lag can be before missed repayments are reported and then logged...?

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Banks will usually try and get the money a few times by DD so if you pay by laser, make sure you don't double pay. I wouldn't worry about the ICB. It's unlikely the bank reported it and they issued a letter to say no mark was put on your record so you are fine. Just forget about it. These things happen.

As Clubman says, check your record if you really want to put your mind at rest.

thanks for your replies, no Sunny I didn't get a letter from bank you see to say it hadn't marked our credit rating that is why I'm worried cos' what they say over phone and what they are willing to put in writing are usually 2 different things.
it still hasn't gone through today so need to make laser payment but I will double check with them and check my ICB report.
Thanks for your replies.

Catering141 said:

thanks for your replies, no Sunny I didn't get a letter from bank you see to say it hadn't marked our credit rating that is why I'm worried cos' what they say over phone and what they are willing to put in writing are usually 2 different things.
it still hasn't gone through today so need to make laser payment but I will double check with them and check my ICB report.
Thanks for your replies.

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Oh sorry, read it wrong. Then just ask to confirm in writing that everything is ok. Shouldn't be a problem. Pretty common occurance.