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    • the shreksta
    • By the shreksta 18th Apr 17, 7:02 PM
    • 20Posts
    • 3Thanks
    the shreksta
    paying off my current credit as part of my mortgage deal
    • #1
    • 18th Apr 17, 7:02 PM
    paying off my current credit as part of my mortgage deal 18th Apr 17 at 7:02 PM
    we have our mortgage offer from halifax and part of the deal is that it says we have agreed to pay off some or all of our current credit aggrements

    £2200 credit card
    £900 dfs sofas
    £500 tyres
    i stated to the mortgage advisor that we could pay some of this off but never said exactly which one or the amount .

    if i pay off £5 then technically i have paid off some of the debt-its quite unclear what they actually want us to do.

    any ideas? should i clear all which would leave us very tight with money or should i just pay off a little?
Page 1
    • Stu_N_
    • By Stu_N_ 18th Apr 17, 8:30 PM
    • 191 Posts
    • 108 Thanks
    Stu_N_
    • #2
    • 18th Apr 17, 8:30 PM
    • #2
    • 18th Apr 17, 8:30 PM
    It would be whatever you or your broker put on the application form. Any idea what that was?
    • Lilla D
    • By Lilla D 18th Apr 17, 10:58 PM
    • 192 Posts
    • 87 Thanks
    Lilla D
    • #3
    • 18th Apr 17, 10:58 PM
    • #3
    • 18th Apr 17, 10:58 PM
    When putting in the application, the advisor has to mark for each commitment whether or not it'd be cleared by the time the mortgage starts. Net, your advisor will be able to tell you exactly what's on the application and what needs to be cleared in order to be able to borrow as much as you are approved for.
    I am a Mortgage Adviser
    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.
    • csgohan4
    • By csgohan4 19th Apr 17, 7:55 AM
    • 3,476 Posts
    • 2,157 Thanks
    csgohan4
    • #4
    • 19th Apr 17, 7:55 AM
    • #4
    • 19th Apr 17, 7:55 AM
    we have our mortgage offer from halifax and part of the deal is that it says we have agreed to pay off some or all of our current credit aggrements

    £2200 credit card
    £900 dfs sofas
    £500 tyres
    i stated to the mortgage advisor that we could pay some of this off but never said exactly which one or the amount .

    if i pay off £5 then technically i have paid off some of the debt-its quite unclear what they actually want us to do.

    any ideas? should i clear all which would leave us very tight with money or should i just pay off a little?
    Originally posted by the shreksta


    how much did the mortgage offer actually stipulate you must pay? if it says x amount you need to pay x amount or the offer will be withdrawn
    "It is prudent when shopping for something important, not to limit yourself to Pound land"
    • Lilla D
    • By Lilla D 19th Apr 17, 9:10 AM
    • 192 Posts
    • 87 Thanks
    Lilla D
    • #5
    • 19th Apr 17, 9:10 AM
    • #5
    • 19th Apr 17, 9:10 AM
    Halifax offers don't stipulate the amount to be repaid, which is why I mentioned that the broker would be able to tell how they submitted the application.
    I am a Mortgage Adviser
    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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