Panicking

Let_Us_See

Although perhaps not the best move don't get too spooked. As has already been pointed out a £4,000 card balance at 5% per month equal £200 or £2,400 per year. Simply deduct this from declared income and apply lender's affordability calculator.

At 4 x income this only equates to less than £10,000 borrowing, and if your provided figures are correct, shouldn't affect mortgage borrowing.

kingstreet

TBH I'd be less concerned about the affordability impact (about £9k on a £30k salary, but £26k on a £20k salary) than I am on the credit score implications of a credit card cash advance when it becomes visible.

Magicbeans_2

For some reason my account has changed to magic beans after I forgot my password and did a password reset. (Seems I signed up years ago and forgot )

From experian searches my husbands credit score is excellent. There isn't a single mark on it of late payments etc he had a pretty perfect credit record. Will it have that massive an effect??

He has tried to ring his solicitor today to see what she says but she isn't in.
We received mortgage deeds to sign and return in the post this morning what do they mean.

I've run numerous affordability searches and with the extra 4k we can still borrow in the region of 150k when we only need 118k.

Speaking to my husband today we are in less of a worrying position than other people would be. my mum is buying my house to rent and we are buying a house down the street which is already vacant as she has moved in with her partner. So I could in theory rent my own house for month off my mum.

If it did all go wrong and the halifax withdrew how long feasibly would it take for a new mortgage offer from another bank??

kingstreet

Lenders take the raw data from credit reference agencies, not their worthless "credit scores."

If Halifax picks up a variation in your credit history during the application process, is the overall strength of your case sufficient to outweigh the negative which may be applied by the system?

If the answer is yes, there will be no problem.

If the answer is no, you'll have a problem.

I don't think anyone can possibly tell you how long it will take you to replace the case with another lender.

Magicbeans_2

We looked through all the info available not just at the score and everything was in green no marks flagging up. (I do understand they will probably have a more in depth version)

In total if no cards were paid off the total debt would be 129k and the halifax from the affordability calculator said we could borrow 159k

Do the mortgage deeds mean anything??

Strangely halifax have sent through an offer of extended credit on the credit card today. ( I know probably different departments!!)