Balance transfer during mortgage application

emsie85

Hi

We've just purchased a house and are in the middle of the mortgage application (its with the underwriters, just had valuation/survey done) and my husband needs to balance tranfer

Will this negatively affect the mortgage application?

I had written out the email asking the underwriter, but didn't dare send it incase just asking affected it!

Thanks

Thrugelmir

Why not wait a few weeks?

AnotherJoe

"Needs to" ? What balance is being transferred, from what to what?

emsie85

Needs to because the 0% ends today

Its a credit card balance transfer

Thanks

wantonnoodle

Generally, advice is not to apply for any other form of credit between mortgage application and completion as it can make a difference.

Also, while you may have provided details of the credit card balance to the mortgage lender, they may gloss over it, so asking may bring it under closer focus, which may not be a good idea.

Hold tight on doing anything until after completion. Lenders do carry out checks for new credit, and it can have nasty consequences: https://forums.moneysavingexpert.com/discussion/5930981/help-mortgage-offer-withdrawn-after-exchange