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Credit card balances and DIP
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Aqua1985
Posts: 54 Forumite
My partner has a small credit card balance which is to be paid once we sell our property. When applying for a DIP/AIP with lenders do I put the balance as 0 or the balance as it is now? We are not buying and selling at the same time so when we apply for the full mortgage offer it will be zero. Looking to maximise borrowing but don’t want to fail the DIP/AIP because of inaccurate figures.
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Current balance and mark to be repaid on completion. However, many lenders won't ignore it for affordability even if it is being repaid - Platform, Santander and a few more if your loan to value is above 85%, 90% etc.I am a mortgage broker. You should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice. Please do not send PMs asking for one-to-one-advice, or representation.1
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