We'd like to remind Forumites to please avoid political debate on the Forum... Read More »
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
mortgage deposit advice

kalechor_2
Posts: 9 Forumite
hi there,
First of all i would like to thank you all in advance for continuos support via this forum. Here is my query
I am planning to buy a house in 2, 3 months time.
now i am saving the deposit bits by bits but the query is
once bank grant me mortgage (i.e mortgage promise),
*can i do balance transfer to my current account from 0% credit card to sum up my 10%deposit and pay to bank?
*will the decision later can change or have effect on my mortgage process?
Looking forward to hear from you soon
thanking you in anticipation.
First of all i would like to thank you all in advance for continuos support via this forum. Here is my query
I am planning to buy a house in 2, 3 months time.
now i am saving the deposit bits by bits but the query is
once bank grant me mortgage (i.e mortgage promise),
*can i do balance transfer to my current account from 0% credit card to sum up my 10%deposit and pay to bank?
*will the decision later can change or have effect on my mortgage process?
Looking forward to hear from you soon
thanking you in anticipation.
0
Comments
-
What you are proposing to do may well have a negative impact on your application.
Rather than rush your application. Why not focus on saving for a few more months.0 -
You can't do this, nor should you.
Crazy idea.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 -
I mean to say that once bank finalised mortgage deal been done then can't i get some amount from my credit card?
LOoking for the answer from you all and from those who have been through this.
many thanks0 -
I mean to say that once bank finalised mortgage deal been done then can't i get some amount from my credit card?
LOoking for the answer from you all and from those who have been through this.
many thanks
The problem is you need to declare the source of your mortgage when you apply. If you say credit card they will reject you.
If you say anything other than credit card you are fraudulently obtaining what will likely be the biggest loan of your life.0 -
Thank you for the prompt reply !!!0
-
-
My other half and I were considering this, glad we read this first. thanks.
Shelly0
This discussion has been closed.
Confirm your email address to Create Threads and Reply

Categories
- All Categories
- 351.3K Banking & Borrowing
- 253.2K Reduce Debt & Boost Income
- 453.7K Spending & Discounts
- 244.2K Work, Benefits & Business
- 599.4K Mortgages, Homes & Bills
- 177.1K Life & Family
- 257.7K Travel & Transport
- 1.5M Hobbies & Leisure
- 16.2K Discuss & Feedback
- 37.6K Read-Only Boards