Will a money transfer mess up my house purchase?

biddwiser
biddwiser Posts: 23 Forumite
in Stoozing: free cash from credit cards
Hi, I am in the process of buying a house at the moment and a few days ago I had a bit of a crisis involving a loved one which resulted in me doing a sizeable money transfer from a credit card to my bank account. Without going into detail, the family crisis was resolved without needing my intervention in the end, so the money transfer was a waste of time anyway.

The money transfer isn't showing up in my bank account yet but I am hoping that I can just pay the credit card off in full (plus the transfer fee) in a few days and avoid any change to my credit score. Is this correct or will my credit score be affected either way now, simply by doing the money transfer itself?

Obviously I am worried that the lender may do a final credit check when I complete on the house, and by doing this money transfer I will have totally blown my chances of getting the house.

Thanks in advance.

Comments

  • Willing2Learn
    Willing2Learn Posts: 6,294 Forumite
    First Anniversary Name Dropper First Post Photogenic
    Ignore your credit score as lenders neither see nor use it. A potential lender scores you against their independent criteria and policies using the data held in your CRA file, added to the data you submit in any credit application.

    Do you regularly check your three CRA credit files for accuracy?
    I work within the voluntary sector, supporting vulnerable people to rebuild their lives.

    I love my job

    :smiley:
  • biddwiser
    biddwiser Posts: 23 Forumite
    Thanks for your reply. I only check my score via ClearScore and Experian (free version). I haven't accessed the three proper CRAs. I have already been approved for the mortgage via Santander, and we should be exchanging in a week or two, but I'm very worried that this recent money transfer will show up on my report - unless I pay it off right away - although at the moment I can't seem to pay it because Barclaycard won't let me - the option is greyed out, presumably because my statement won't be generated for a few weeks?
  • Willing2Learn
    Willing2Learn Posts: 6,294 Forumite
    First Anniversary Name Dropper First Post Photogenic
    I don't believe the money transfer will impact negatively on your credit file(s).
    I work within the voluntary sector, supporting vulnerable people to rebuild their lives.

    I love my job

    :smiley:
  • biddwiser
    biddwiser Posts: 23 Forumite
    Really? I would have thought that it would affect it negatively as it's still a debt on my credit card.
  • No_6
    No_6 Posts: 835 Forumite
    First Anniversary Combo Breaker
    another 10 year old poster that should know by now !!!
  • No_6
    No_6 Posts: 835 Forumite
    First Anniversary Combo Breaker
    No response, so going back to sleep for another 10 years
  • cryan1181
    cryan1181 Posts: 7 Forumite
    A suppose it would all depend on the amount transferred I guess
  • cryan1181
    cryan1181 Posts: 7 Forumite
    Halifax told me my account was closed.lied to me again
  • cryan1181
    cryan1181 Posts: 7 Forumite
    Can I just say I absolutely love all of you my new family 🤗
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