Using credit card for fees?

psycrow57

I have a credit card with £3900 available (currently unused, had it for years). We are trying to figure out what our maximu budget would be and I'm trying to establish whether using my card to pay stamp duty, legal fees and survey would be possible, and whether it would negatively impact a mortgage? I've read stuff saying that it's bad to apply for credit after having a mortgage application accepted as they could revoke it, but nothing about using credit you already have. If it's a bad idea then fine, just wondering if I can consider it to be funds we can use or not.

davidmcn

Do your lawyers/surveyors accept credit cards?

psycrow57

We don't have them yet, just looking into offering on a house and trying to figure out whether we can use that money without it scuppering our mortgage application. It looks like you can pay stamp duty on a credit card, but obviously don't want to do it if it's going to cause an issue. Just wondering if anyone has any experience of this?

kingstreet

psycrow57 wrote: »

We don't have them yet, just looking into offering on a house and trying to figure out whether we can use that money without it scuppering our mortgage application. It looks like you can pay stamp duty on a credit card, but obviously don't want to do it if it's going to cause an issue. Just wondering if anyone has any experience of this?

You won't be able to.

Those not needing a mortgage can pay their own SDLT upto 30 days after completion and pay by card.

Those needing a mortgage have to pay cleared funds to their solicitor ahead of completion and credit cards aren't normally accepted.

chelseablue

What Kingstreet said.
We purchased with a mortgage and the solicitor had to have the funds for the stamp duty or we couldn't complete (our stamp duty bill was £10,000, still recovering from having to hand that over to the government)

davidmcn

Solicitors might accept credit cards for their own fees, but less likely to for disbursements (as they won't want to incur the commission for costs which don't include any profit margin for them). Debit cards maybe.