Buying at auction

Newbie2979

Advice needed 
I'm planning to buy a house with  through modern method of auction, I have most of the cash available in savings and was planning to make up the shortfall with zero rate cash transfers to my bank account from 2 credit cards, does anyone know if this is allowed as I can't find anything online about it in the UK, its seems an odd way of doing things but is only temporary as I will have either paid the cards off with my current earnings by the end of the zero rate offer or would have refurbished and refinanced well in advance of the rate ending. Any advice would be appreciated 

eskbanker

https://www.moneysavingexpert.com/credit-cards/money-transfers/ details cards that have offers to allow cheap transfers to bank accounts, but outside of these, there will usually be a fee of several percent and interest thereafter.

Newbie2979

Thank you, I've done the transfers and got the 0% deals already from my existing cards but I cant find details of whether I'm allowed to use the money in this way 

eskbanker

Newbie2979 said:

Thank you, I've done the transfers and got the 0% deals already from my existing cards but I cant find details of whether I'm allowed to use the money in this way 

Oh I see, misunderstood the question!   Mortgage lenders would be concerned about also using card credit to fund a purchase but if you're buying a property completely in cash, then the original source of that cash shouldn't be an issue for the seller or auctioneer, unless there are any terms issued by either party that mention this?

Newbie2979

Thanks for the input, much appreciated 

ThisnotThat

Newbie2979 said:

Thank you, I've done the transfers and got the 0% deals already from my existing cards but I cant find details of whether I'm allowed to use the money in this way 

Loans typically do not allow the cash to be used to purchase property but I'm not aware of any credit cards that have this restriction (although I've admittedly not done much research.)

Newbie2979

I've been researching for days. Very little information online about this, I'm either a pioneer or completely stupid 🤣🤣🤣