Need some advice - morgage extension and applying to increase overdaft

LIONSL2005_2

Hi

We have bought our new build house with help to buy ( Exchanged). Expected completion is mid November ( Sep - Oct -Nov 3 month window). Now developer informed there are some delays and new time frame is Nov - Dec - Jan. Our mortgage offer runs out in end of december. Mortgage advisor told us they can get one month mortgage extension from the lender.

We have paid the Stamp duty and deposit, now money is bit tight.

Now I need to travel back home urgently for a week ( Brothers Wedding) and need some money. I have 2 options
1. ask to increase my Halifax Over draft ( currently £200- Had it for may years and never asked to increase.)

2. I have Halifax credit card (£600 limit - Managing well couple for months - Ask for an increase.

My question is which one is best to go for.?

Will this have any effect if we were to ask for mortgage extension or even has to apply for mortgage again due to late completion ?

Thanks in advance.:beer:

hazyjo

LIONSL2005 wrote: »

Hi

We have bought our new build house with help to buy ( Exchanged). Expected completion is mid November ( Sep - Oct -Nov 3 month window). Now developer informed there are some delays and new time frame is Nov - Dec - Jan. Our mortgage offer runs out in end of december. Mortgage advisor told us they can get one month mortgage extension from the lender.

We have paid the Stamp duty and deposit, now money is bit tight.

Now I need to travel back home urgently for a week ( Brothers Wedding) and need some money. I have 2 options
1. ask to increase my Halifax Over draft ( currently £200- Had it for may years and never asked to increase.)

2. I have Halifax credit card (£600 limit - Managing well couple for months - Ask for an increase.

My question is which one is best to go for.?

Will this have any effect if we were to ask for mortgage extension or even has to apply for mortgage again due to late completion ?

Thanks in advance.:beer:

If you can't find £200, it doesn't sound like you can afford the house - or are you paying out considerably more at this time than you will be once you own it?


I presume you have known about the wedding for more than a week?! I presume you need to fly? Flights are cheaper (usually) the further ahead you book.


Where do you need to get from/to?


Can't answer the rest without knowing your LTV, salary, etc - in fact, I still can't answer as people spend money differently and I really don't want to know all your outgoings

LIONSL2005_2

Yes I wanted to fly in October ( half term) . I'm in need at least £2000 not £200.

Thank you

kingstreet

Why have you paid the stamp duty?

LIONSL2005_2

Sorry i mean to say its paid by the developer.

kingstreet

This is going to depend on the lender in question.

You really need to avoid any applications for new credit which will slap a hard search footprint on your credit file.

LIONSL2005_2

Does this including asking to increase Overdraft limit on a current account?

hazyjo

LIONSL2005 wrote: »

Yes I wanted to fly in October ( half term) . I'm in need at least £2000 not £200.

Thank you

Is it Australia :eek: Must have misunderstood, thought that's what you needed to add to it.


So you want to borrow/find £2k?


There must be a cheaper way of doing it. Sofa surf? Airbnb? Fly on a cheaper day and stay for longer?

kingstreet

LIONSL2005 wrote: »

Does this including asking to increase Overdraft limit on a current account?

I've no idea. Ask the provider concerned?