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gifted dept repayment
deano3
Posts: 234 Forumite
Hi,
My mother in law won close a 6 figure amount on the lottery. She is going to pay off credit card dept. If the balance still shows on credit file when i make a mortgage application can i simply explain the above or should i wait for the zero balance to appear?
My mother in law won close a 6 figure amount on the lottery. She is going to pay off credit card dept. If the balance still shows on credit file when i make a mortgage application can i simply explain the above or should i wait for the zero balance to appear?
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Comments
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That's great news now you will be able to take out the mortgage together rather than alone.:j Trytryagain FLYLADY - SAYE £700 each month Premium Bonds £713 Mortgage Was £100,000@20/6/08 now zilch 21/4/15:beer: WTL - 52 (I'll do it 4 MUM)0
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Simply state the balance, ticking the "to be repaid on, or before, completion" box. You need not wait for it to clear from the system and do not assume it has until a couple of months after the payment.
It's "debt" by the way. Sorry, but I can't keep it in any longer.
I am a mortgage broker. 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. Please do not send PMs asking for one-to-one-advice, or representation.0
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