Mortgage Condition Help

tfatfa Forumite
9 Posts
Fifth Anniversary Combo Breaker
Hi All,

FTB here. I just wanted some explanation on a question or advice from anyone who has been in a similar situation.

We have our mortgage offer and at the bottom of it is a special clause RE Credit Card balances.

When we did our application they asked both of our current CC balances. They then asked what they would be reduced by when the time comes to complete. This was a tricky one to work out but since mine was only £150 i said i would pay £150. I did this that month when the bill came in. Then we are now a further month on and the balance is about 300, again it gets paid off.

The terms say that the debt has to be paid before completion

Do i need to have my balance at £0.00 when the house completes? Cos i would quite like to get a few bits in the run up and am now slightly worried.

Any help guys would be great.



  • The way I read it your balance must be 0 before completion.
  • tfatfa Forumite
    9 Posts
    Fifth Anniversary Combo Breaker
    So that would baiscally render my CC useless now for the next 3 months while we complete
  • goodwithsavinggoodwithsaving Forumite
    1.3K Posts
    Ninth Anniversary 1,000 Posts Name Dropper
    I haven't touched mine since the offer came through and won't until after completion. It isn't worth the risk - it has to be at zero before completion. Adjust to using debit for a bit while you wait to move.
  • amnblogamnblog Forumite
    12.1K Posts
    Ninth Anniversary 10,000 Posts Name Dropper Photogenic
    If it is conditional on the offer the solicitor will be expected to ensure that it happens.

    Some solicitors will insist they have evidence it is paid, some will just point the offer conditions out to you and leave it to you.

    If you always pay your card off at the end of the month that should be good enough.
    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.
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