Mortgage special conditions - credit cards

csgohan4

davidmcn wrote: »

Unless they've changed it, the condition is (typically) that you pay off the cards on completion (i.e. immediately following), not before. In which case the lender can't check that you've done it before you complete.

isn't that worse?, they could recall the whole mortgage rather the offer for failure to comply

davidmcn

csgohan4 wrote: »

isn't that worse?, they could recall the whole mortgage rather the offer for failure to comply

No, they can't realistically recall a mortgage just for breaching some minor condition. And they don't check anyway. Not that I'd advocate breaching it.

CMB93

I was always going to pay it, was just worried on how they would check because credit report won’t be updated in time.

Will just send a credit card statement to my lawyer around contract exchange to show it’s been paid, incase he’s asked for it.

csgohan4

davidmcn wrote: »

No, they can't realistically recall a mortgage just for breaching some minor condition. And they don't check anyway. Not that I'd advocate breaching it.

Well I guess it's the OP's choice to do so, but it would be bad form not to follow the conditions. However as another had said earlier they were asked for proof before drawing of the mortgage