Confused over credit card payments

kingstreet

If it's due to end within six months, the system would have ignored it for affordability purposes.

Someone entered it when it should have been left out.

swishy87

kingstreet wrote: »

If it's due to end within six months, the system would have ignored it for affordability purposes.

Someone entered it when it should have been left out.

No I suspect it has picked up from the credit report as it is the exact amount.

kingstreet

Yes, it will be picked up during the credit search then ignored for affordability purposes if due to end within six months.

If it is on the offer, someone entered it during the application process.

kingstreet

BTW it asks for "Personal loans / hire purchase with more than 6 months to run?"

and

"Personal loans / hire purchase being cleared on or before completion"

Note, six months may be considered six months from now, not six months from completion, as you cannot estimate when completion will take place when the case is keyed.

Suaviter

Just to let anyone know who is interested:

I rang Nationwide this morning and they confirmed that I only have to pay off £200 before completion. They are aware of the full balance of the card. My solitcor has misunderstood! I am very relieved. I still think the use of the word 'balance' seems to imply it is the full amount on the card. But clearly not!


Thanks for all your help.

swishy87

kingstreet wrote: »

BTW it asks for "Personal loans / hire purchase with more than 6 months to run?"

and

"Personal loans / hire purchase being cleared on or before completion"

Note, six months may be considered six months from now, not six months from completion, as you cannot estimate when completion will take place when the case is keyed.

It was 6 month from completion. I double checked with Nationwide myself.

kingstreet

swishy87 wrote: »

It was 6 month from completion. I double checked with Nationwide myself.

Another vague issue in the Nationwide system. It's amazing anything ever gets done right.

Who can possibly know when completion is going to take place at the point of completing a mortgage application?

swishy87

kingstreet wrote: »

Another vague issue in the Nationwide system. It's amazing anything ever gets done right.

Who can possibly know when completion is going to take place at the point of completing a mortgage application?

Because we can't complete until end of September and can 100% say the car finance will be finished 4 months after that. I didn't set the rules, I just listened to the broker then double checked myself with nationwide. Both of which said it was 6 months from completion.

kingstreet

I wasn't discussing your specific case, just the policy as a whole for the average application.

You shouldn't have to ring and ask. The questions should be more specific.

As a newbuild specialist we do often know the earliest completion date but in most cases, no-one does at the point of application.

swishy87

kingstreet wrote: »

I wasn't discussing your specific case, just the policy as a whole for the average application.

You shouldn't have to ring and ask. The questions should be more specific.

As a newbuild specialist we do often know the earliest completion date but in most cases, no-one does at the point of application.

If we have to pay it before to prevent having to wait for a new offer I we will have to, but I would prefer not to seeing as we were told it wouldn't be counted. Broker is on holiday so will probably have to try them direct.