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

SD24102010
Posts: 3 Newbie
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
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
0
Comments
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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.0 -
You've declared the account. That's the main thing.0
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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.0 -
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 overworkedI 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.0 -
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.0
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