Mortgage Stipulations - Credit Cards

Barthanes

Hey,

I recently got a second mortgage approved to purchase a property, however one of the stipulations due to it being a second mortgage is to pay off one credit card and reduce another to £100.

I can do this, but i am looking to purchase some items for the new property and was wondering if i can put it on another card that wasn't mentioned in the stipulation?

Is this an OK thing to do or a bad thing to do? unsure.

Thanks

dgtazzman

Don't, with stipulations like that I would say it's very likely they will do another credit check before releasing funds. The application for the new card will show and you might find yourself in a world of trouble. Just wait with purchasing items for the home till after completion.

Barthanes

Dgtazzman,

Thanks for the reply. Ok, I was unsure but I suppose you make sense! The card is an existing card, one that isn't used.

But ok, I'll wait until the move is done before purchasing items.

Westminster

Does the offer state you need to action this prior to drawing down the funds - mine just said within 30 days of completion ...

Barthanes

It just said to ensure that it was done prior to the funds being released. Just that I supply the last four digits from both of the cards to them.