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Using credit card during mortgage application
JamesMarcus
Posts: 3 Newbie
Hi all,
I'm currently going through mortgage application via national wide. During the application, I told my broker I will pay off my credit card in a few months, however I have used up about £500 since then.
Before using the credit card I confirmed nation wide had already done credit check on me and my partner.
If I don't payback the £500 before the mortgage completion and nation wide runs a final credit check, will it affect the chance of getting the mortgage Approved?
Thanks.
I'm currently going through mortgage application via national wide. During the application, I told my broker I will pay off my credit card in a few months, however I have used up about £500 since then.
Before using the credit card I confirmed nation wide had already done credit check on me and my partner.
If I don't payback the £500 before the mortgage completion and nation wide runs a final credit check, will it affect the chance of getting the mortgage Approved?
Thanks.
0
Comments
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I don't think so, we are with nationwide and my mortgage advisor said pay off cards within 6 months of mortgage starting.DFW Total £21,800 to clear by Dec 2022
MFW Total £184,950 £179,066 to clear by 20350 -
Taking on any new debt can affect your score and your affordability and is best avoided.
Your position would have to be pretty marginal to make £500 a deal breaker, but keep off the card anyway.I am a Mortgage Broker
You should note that this site doesn't check my status as a Mortgage Broker, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.0 -
Thank both0
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