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Credit card balance to declare when you pay in full
blobslosak
Posts: 8 Forumite
Just a query on what I should put on the outgoing part of the form regarding paying off credit card balances. I have always paid off in full every month since I can remember. When speaking to an adviser she said that means I have a balance of zero. However my credit check shows I have a balance of circa 700 a month as obviously the statement comes out a month after the spend and on average i spend 700 a month on the card... I.e. The payment in full always lags the statement by a month. So do I just put what a pay off in full every month as my ooutgoing balance payment?
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Comments
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Put down the balance on last month's statement and tick the "to be repaid on or before completion" box, so it is ignored in affordability calculations.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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I am applying to first direct and they didn't have that on the online form?0
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Sorry. No idea about that.
You'll have to ask lender.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 -
Ok thanks.0
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