Cash off CC if desperate

tramsden

HI.

When it comes to putting down my deposit for a house I may be £2K short, so as a last resort I could use my HSBC Visa CC to get the money.

Whats the best way to get it, I know I can get it over the counter but the charges will be high. Is there any other way no as costly?

.Tony

opinions4u

High risk strategy this.

If your mortgage lender does a credit such prior to releasing the funds for the house purchase and discovers a new and undisclosed debt, they could withdraw your mortgage offer.

To answer your question, every credit card I know doesn't charge differently for cash advances via ATM or counter. You could ring them and ask them if they have any special offers for credit card cheques and clear one of those via your bank account if appropriate.

I don't know how you've managed to find yourself in this situation though. It seems like very poor financial planning and you should be asking yourself if you can really afford to sustain a mortgage commitment.

Is it likely that the lender would do a credit search at that late hour? and after doing the search at application.

I have read about this happening on the Mortgages part of the forum. And if you fail to advise the lender of this new commitment you will be committing a criminal act.

tramsden

Is it likely that the lender would do a credit search at that late hour? and after doing the search at application.

I would only get the money this way if I couldn't raise it before.

hillcats

As stated that is really not a good idea, you really should have the deposit as YOUR money and not borrowed money, this is the sort of thing they are looking for nowadays - be careful with this one it may back fire...