Do they check credit cards balances for an AIP?

KaratePigeon · 28 July 2017 at 6:38AM

We are going to apply for an agreement in principle with Halifax. We used an online mortgage broker and he suggested Halifax.

I answered 'no' to do you have any credit cards, because although I have a few, there is nothing on them. DP has one with about £1k on but we are going to pay this off over the next few weeks so it'll be zero by the time we do the real mortgage application. I told the broker this and he seemed to think it was fine, but I'm a bit worried that this credit card debt will be picked up by the credit check and we will get refused for not being honest? Or is the credit check literally just your credit score?

The broker has asked for 3 months bank statements, what are they looking for on these? Happy to provide them but they have things like big childcare bills on (which we've been paying until now but won't be any more as youngest is starting school)

Also how reliable is it that we would get an actual mortgage deal if the AIP is given?

Thanks

CBN · 28 July 2017 at 7:29AM

You should have answered yes. But then you know that.

I've done one recently. Once you say you have a credit card you then have the option to say what the balance is and, in a case where you have a balance, whether it will be cleared before the mortgage starts.

Whether it'll cause you a problem? Probably not, you've an innocent enough story and when you do the full application you'll have to put it all in / update it and it's that that they'll use.

amnblog · 28 July 2017 at 7:53AM

The credit cards wont be an issue.

Deciding what is and is not relevant and being cagey about information may be.

Whatever the situation, your broker will manage it, that is the job.

Do they check credit cards balances for an AIP?

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