Barclays/woolwich Mortgage offer

BIGDSUMMER

Evening all
We Have had a mortgage offer with barclays/woolwich thats the good news bit.
Part of the offer is to make sure we pay off one of our credit cards 30 days after completion this is not a problem as we are being gifted some cash and are paying it off as we said we would...

However i am going crazy with worry as the the debt on the card has increased by £1,500 (no way we could have avoided using card although we know this is very stupid) this of course will be paid off and closed when we receive our gifted money but we have been reading about a final credit check on completion day could this flag up as undeclared debt and stop us in our tracks or cause complications Do they do final credit scoring ...

edit.. i should add i do not think the above would affect us on affordability for the mortgage amount

Thrugelmir

BIGDSUMMER wrote: »

(no way we could have avoided using card although we know this is very stupid)

May raise concerns for a lender as to the state of your personal finances and the manner in which to run them.

amnblog

The ball is in your solicitors court. If they are like most solicitors they wont run any checks but may simply remind you the debt should be paid.

It is a concern from a practical point of view however, that at this stage £1,500 is a problem for you.

Make sure you are prepared for your first mortgage payment which may come sooner and be higher than you expect.

BIGDSUMMER

Ok So a Solicitor can run a credit check or ask me to provide statements is that correct.
Is it unlikely then that the bank will run another credit check on completion and notice the extra balance and flag a concern ..

I am a self employed sole trader the card in question is the card i use for business matters only but being a sole trader its in my name not a company so this was simply a business expense that the business would normally take care of at the end of the month however as stated this card will be paid and closed. so not a financial issue or trouble for me although i understand it may not look great on paper

David_White

I wouldn't panic as I'd be surprised if this caused an issue with an offer from Woolwich.

Keep us posted.