wrong credit card outstanding balance in mortgage application. Help!!Thank you

SD24102010

Hi all,

I am new to this forum and really need advise from anyone here. I am a FTB with my husband and we apply mortgage directly with natwest. House value £322,500 with 20% deposit.

Last night i just realised that I have told the bank during mortgage application at Branch that my outstanding credit card debt is £1,300 instead of £2,300! I dont know why i thought my credit card outstanding balance is £1300. Thats the only credit card that we have outstanding balance. My husband has one card with 0 balance and i have another card with 0 balance.

I called the branch today and the broker said my application is already gone to underwritting process. What do i do now- will my application got rejected. We both have good credit score (mine is 886 and husband 900+) and combined income of £68,800 p.a. No kids and no other outstanding loans.

Please help! Thank You

amnblog

It wont get rejected over this - they will pick it up on search and, unless your are tight on affordability, you will probably hear nothing about it.

Thrugelmir

You've declared the account. That's the main thing.

SD24102010

Oh thank you so much. I was really really worried about this. I was panicking the whole day waiting for Natwest to call with bad news etc.

I dont want them to decline our application because of non disclosure or something like that because of this.

Yes i have declared everything. We dont have any other debt (loans etc) other than this particular card. The only reason it was outstanding is because of the 0% interest that we have untill end of this year. i should have settled it as soon as possible but i though we are being clever and pay it off £250 per month till its cleared.

Thank You again for your response. Really really appreciate it.Branch people were not very helpful when i called them this morning.

amnblog

SD24102010 wrote: »

Branch people were not very helpful when i called them this morning.

It's hard to be helpful when:


You don't know the answer
No-one else does
Someone will tell you off if you get it wrong
You are overworked

SD24102010

You are right. Cant blame them, if i told them the correct outstanding amount at the firts place this all can be avoided.

Just have to wait and see what the decision is.