Paying mortgage on credit card

wilko_1984

Hi Guys,

I have sold my house and exchanged contracts with completion due on the 8th February.

My next mortgage payment is due on 1st Feb but I need the money in my current account to pay for building work on my new house and that is also due on the 1st Feb.

I don't want to upset my builders so I am thinking that perhaps I can pay my mortgage with my credit card this month.

The new house also has a mortgage so I may do it on both properties.

I have not tried to do this before, will the mortgage companies accept credit card payments?

_Andy_

none that i'im aware of

kingstreet

When is the assumed last payment on the redemption figure your solicitor has?

It may well have assumed no payment is made on 1 Feb and will be higher as a consequence.

wilko_1984

kingstreet wrote: »

When is the assumed last payment on the redemption figure your solicitor has?

It may well have assumed no payment is made on 1 Feb and will be higher as a consequence.

We've not had the redemption figure back from the mortgage company as yet.

kingstreet

You haven't, has your solicitor?

wilko_1984

kingstreet wrote: »

You haven't, has your solicitor?

We only sent the letter to them on Friday morning so I expect we'll hear next week.

I think I'll call the mortgage company tomorrow and tell them that if a payment is due on 1 Feb it will have to be on a credit card.

kingstreet

wilko_1984 wrote: »

We only sent the letter to them on Friday morning so I expect we'll hear next week

You are writing? Why?

As your solicitor has responsibility for repayment of the existing mortgage, I'd expect him/her to be handling such an issue.

Have you already cancelled the direct debit for the mortgage payments, by any chance?

wilko_1984

kingstreet wrote: »

You are writing? Why?

As your solicitor has responsibility for repayment of the existing mortgage, I'd expect him/her to be handling such an issue.

Have you already cancelled the direct debit for the mortgage payments, by any chance?

I didn't write. My solicitor did and I countersigned the letter. Not yet, I am going to call the mortgage co tomorrow.

Thrugelmir

wilko_1984 wrote: »

and tell them that if a payment is due on 1 Feb it will have to be on a credit card.

Your lender won't accept credit cards for payment.

I need the money in my current account to pay for building work on my new house and that is also due on the 1st Feb.

You don't own the property yet? So why the advance payment.

Stall your builder.

leveller2911

Thrugelmir wrote: »

Stall your builder.

Everyone stalls the builder.......I don't know the OP's details but if,for instance the builder has had bespoke Joinery made for the new house then why shouldn't he expect payment on the agreed date that the work is due to start?.....

When buying materials they generally have 30 days but not with bespoke work.

Thrugelmir

leveller2911 wrote: »

Joinery made for the new house then why shouldn't he expect payment on the agreed date that the work is due to start?.....

Agree totally.

Though defaulting on your mortgage payment is not advisable.