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

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

Comments

  • amnblog
    amnblog Posts: 12,762 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    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.
    I am a Mortgage Broker

    You should note that this site doesn't check my status as a Mortgage Broker, 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.
  • Thrugelmir
    Thrugelmir Posts: 89,546 Forumite
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    You've declared the account. That's the main thing.
  • 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
    amnblog Posts: 12,762 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    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
    I am a Mortgage Broker

    You should note that this site doesn't check my status as a Mortgage Broker, 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.
  • 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.
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