Pre fund release credit checks

SR1

I have a mortgage offer from Halifax and hoping to complete in a couple of weeks, I know I shouldn't apply for any credit at this stage but I am wanting to purchase a season ticket for work travel which is £2700 and was going to purchase with my credit card ( I have the cash for this in bank though) will they start looking at my credit card transactions before they release the funds ? Am I better not using my card at all ?
Thanks in advance

Westminster

It takes a while for credit cards to update to the CRAs.

You could grab a copy of your current file and see when that credit card last updated - also you can cross-check that with your statement date on the card.

I reckon you will be pretty safe.

Is the cost of the season ticket included in the expenses listed as part of your application?

SR1

Westminster wrote: »

It takes a while for credit cards to update to the CRAs.

You could grab a copy of your current file and see when that credit card last updated - also you can cross-check that with your statement date on the card.

I reckon you will be pretty safe.

Is the cost of the season ticket included in the expenses listed as part of your application?

Well that's the thing , we did the application with a broker , we never raked through expenses like that , just current mortgage and debts I think ,

SR1

Will they have looked at our outgoings from our bank statements to total up our living costs ?

amnblog

Can you not wait two weeks?

kingstreet

SR1 wrote: »

Will they have looked at our outgoings from our bank statements to total up our living costs ?

No. Halifax uses ONS stats.

Its live system re-scores every time something changes on the case and if your card spend makes affordability questionable, you may have to borrow less.

I did report not so long ago about a case where the payment of the valuation fee to Halifax on a credit card showed up on the credit score a few weeks afterwards because of an alteration.

Any credit expenditure should be avoided.

SR1

i have used my card since application , a few hundred quid on non essential items, I always pay in full on statement , will this have an impact, I definatly will wait to purchase the season ticket

Goldiegirl

It sounds as if the Halifax system is still the same as it was when I was there 5 years ago.

They didn't routinely check people's credit cards before completion.

BUT

If an offered mortgage application reverted to a pre offer status for any reason, for example if an amended offer was required, it would rescore the application before issuing the new offer.

Any new credit information would be taken into consideration - from time to time this would cause havoc if there had been changes to the customers credit card balances.

If you can avoid any large new credit card/loan expenditure, it is very wise to wait, just in case.

SR1

Thanks,
I also put my valuation fee on my credit card but I just had to fill out my card details on a form and give it to my broker so I would never have used a debit card, I have just paid my bill so my balance on this card will be zero, so it's not really a change in circumstances since my application is it ?

Goldiegirl wrote: »

It sounds as if the Halifax system is still the same as it was when I was there 5 years ago.

They didn't routinely check people's credit cards before completion.

BUT

If an offered mortgage application reverted to a pre offer status for any reason, for example if an amended offer was required, it would rescore the application before issuing the new offer.

Any new credit information would be taken into consideration - from time to time this would cause havoc if there had been changes to the customers credit card balances.

If you can avoid any large new credit card/loan expenditure, it is very wise to wait, just in case.