Mortgage Condition, repayment of debt

mrtachyon

Hello,
I've received a mortgage offer from Nationwide and for some reason there is a condition I repay the balances on my credit cards. I've already explained to my broker that I don't hold a balance on my credit cards, I pay the full amount every month via DD. I tend to put all my purchases through a credit card rather than debit card for the protection + any bonuses the different credit card schemes offer but the balance is less than £1k.

Now my solicitor is wanting me to send them statements from my card, transfer the money to the solicitor and have the solicitor pay off the cards???

This whole thing seems a bit OTT for a really small debt (the debt is about the same as 1 mortgage payment) Is it just me or does this seem a bit crazy? Has anyone else experienced this before?

Thanks!

HummingBird76

If you don't hold a balance on any of your credit cards then the condition is settled so nothing to worry about.  Make sure you don't put anything else on them prior to your purchase completing.

haras_n0sirrah

As a broker we take the balance off the credit report as this is what the lender sees. So if you clear your credit card monthly but the credit report shows a balance of 500 we would out that there is a 500 credit card being repaid as if the credit card is not declared the lender can be funny about non disclosure