Credit Card for better LTV?

amanda757

Hi,


We are looking to move house. Our finances are in good shape and we have no debt apart from our current mortgage. We don't enough savings for the moving costs - solicitors, stamp duty etc so could use some money from the equity of our current property to pay for these, however that will push into a higher LTV bracket. Is it worth getting a credit card to pay for the moving costs to ensure we stay in the lower LTV bracket?


Any advice much appreciated


Thanks
Amanda

Malmo

I would avoid any new credit applications until after completion. Adding debt during this time may hinder your mortgage application.

Pixie5740

Would your solicitor accept a credit card payment? I doubt they would and that would also mean not being able to pay SDLT by credit card either.

amnblog

This is a very BAD idea Amanda. Your loan to value is what it is.