Applying for mortgage with credit still showing

Kylemac111

Hello

I am looking to apply for a mortgage that I have an angreement in principle.

Earlier this month, I bought a £11,000 car using my credit card, but I paid it off in full within a week. During that week my credit report updated to a £11,000 cc balance that is still showing even though it is paid off.

Now when I try to get an AIP, I get really low amounts when getting soft credit searches as it shows I have a debt.

Will mortgage companies be able to manually underwrite the offer to show that he debt has actually been paid off? I am stating to worry that this will prevent me getting a mortgage?

Thank you

Thrugelmir

Kylemac111 wrote: »

Earlier this month, I bought a £11,000 car using my credit card, but I paid it off in full within a week. During that week my credit report updated to a £11,000 cc balance that is still showing even though it is paid off.

That's impressive. Finance houses aren't normally that up todate.

Kylemac111

I know, i feel that it will affect my ability to get a mortgage even though my credit history\rating is excellent and my income is stable

amnblog

Sounds like you have not been entering the £11,000 as a debt.

Enter it as a debt and that it will be repaid before completion.

Be careful though, some lenders count it against your affordability regardless.