credit card usage/overdraft application in month of completion?
ben1985
Forumite 115 Posts
Evening everyone,
Today, after numerous delays we have both exchanged (lodger & me) on the sale of my flat to him and my purchase of another house.
We have both paid 10% deposit each on our respective purchase, which has now left us a little skint!
All we have to save for now is the solicitors fees to be paid at completion but we're not sure about two things.
We both have credit cards (myself 1.5k limit and lodger 1.9k), we have a few ideas to allow us to save more for the solicitors fee's to ensure we have enough (better to have extra than not enough of course!)
Note: Due to complete in 4th week of May
1: Both using credit cards for things like petrol and food purchases (not for cash advances) which will result in less spending on main a/c and therefore for money for solicitors fee's.
2: I have a £500 O/d and then my lodger applies for an O/D with his bank over internet (Lloyds TSB) for £500 to ensure has an overdraft and he has no chance of not paying the solicitors bills.
My only worry is the proximity of both of them to completion, is our lender (NatWest) going to pull the offer of loan if we use our credit cards in May for food & petrol (max £200 each) or if my lodger applies for a £500 O/D with his bank in Mid May?
We just don't want to get our offer of loans pulled..
Any advice that anybody can give us would be much appreciated.
Kind Regards
BW
Today, after numerous delays we have both exchanged (lodger & me) on the sale of my flat to him and my purchase of another house.
We have both paid 10% deposit each on our respective purchase, which has now left us a little skint!
All we have to save for now is the solicitors fees to be paid at completion but we're not sure about two things.
We both have credit cards (myself 1.5k limit and lodger 1.9k), we have a few ideas to allow us to save more for the solicitors fee's to ensure we have enough (better to have extra than not enough of course!)
Note: Due to complete in 4th week of May
1: Both using credit cards for things like petrol and food purchases (not for cash advances) which will result in less spending on main a/c and therefore for money for solicitors fee's.
2: I have a £500 O/d and then my lodger applies for an O/D with his bank over internet (Lloyds TSB) for £500 to ensure has an overdraft and he has no chance of not paying the solicitors bills.
My only worry is the proximity of both of them to completion, is our lender (NatWest) going to pull the offer of loan if we use our credit cards in May for food & petrol (max £200 each) or if my lodger applies for a £500 O/D with his bank in Mid May?
We just don't want to get our offer of loans pulled..
Any advice that anybody can give us would be much appreciated.
Kind Regards
BW
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Can anybody offer any useful advice, there must be some credit guru's on here who know whether I am being extremely over cautious or it is something I do need to be concerned about.
Regards
BW