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Can I go on holiday and spend prior to mortgage application
putopao
Posts: 95 Forumite
Hi,
will it be a red flag is I spend a huge amount on my holiday before I apply for a mortgage? We are FTBs. And we are planning to go abroad and spend around few thousands £ , we are not going to spend our savings on this. Will it be a problem with the lender?
will it be a red flag is I spend a huge amount on my holiday before I apply for a mortgage? We are FTBs. And we are planning to go abroad and spend around few thousands £ , we are not going to spend our savings on this. Will it be a problem with the lender?
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Comments
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Who knows? Will it have any impact on you being able to buy the house?
If it is, wait until you've bought the house and then go on holiday?0 -
If you aren't planning on using your savings how do you intend to pay for the holiday? If you pay for it on a credit card, having previously had little or no balance then yes this might have an impact
- Original mortgage end date: March 2041
- Current mortgage end date: Dec 2032
- MFW 2025 #15 £128.00/ £2,400 /// MFW 2024 #15 £1,608.85/ £2500 /// MFW 2023 #15 £8,617.84/ £10,000 /// 2022 #15 £7,315.24/ £7250 /// MFW 2021 #15 £8,530.07/ £8500
- Daily interest is currently £4.48
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if your low income earner or borderline for affordability, that few thousand on a credit card will hit that affordability. Which is more important holiday or house?"It is prudent when shopping for something important, not to limit yourself to Pound land/Estate Agents"
G_M/ Bowlhead99 RIP0 -
No, we will not use our credit card, we plan to use our income on that month. Will this affect our affordability?0
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Do you have a broker maybe you could ask them? It really does vary on personal circumstances and the lenders criteria. If you're that worried about it, avoid it and wait until after the move. There no black and white answer.0
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Depends whats important to you.putopao said:Hi,
will it be a red flag is I spend a huge amount on my holiday before I apply for a mortgage? We are FTBs. And we are planning to go abroad and spend around few thousands £ , we are not going to spend our savings on this. Will it be a problem with the lender?
A few thousand on a holiday or do you want it to affect your application.0
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