Mortgage question - credit card debts

[philv]

Hi

I am about to look for a new mortgage as i am coming to the end of my existing deal.

I have a few thousand on credit card that i can but dont want to pay off right now.

Can the mortgage company see thoses debts anywhere if i dont mention them?

Cheers

[Sarnie]

Yes.

Your balances will be visible on your credit file. If you do not disclose them not only will it be labelled as attempted mortgage fraud, your application is likely to be declined purely down to non-disclosure even if it's still affordable.

Why would you not disclose them??

[anonymous-user]

Not mentioning them on the application if they ask is Fraud, and yes they can see them on your credit report.

[RSoovy4]

Full and frank disclosure at ALL times.

[philv]

I thought if i said i had 3k debts and 3k in cash it would still count againgst me?

May e ill just pay off the cards - simpler

[Sarnie]

No lender will ask you what you have in cash/savings.

If it's only three £3k then it shouldn't have a huge impact on the application at all.....

[BoRED S2upid]

Sarnie said:

No lender will ask you what you have in cash/savings.

? really? HSBC asked me. The nosey buggers I felt like telling them its none of their business how many millions I have stashed offshore but they were giving me a mortgage.

[Sarnie]

BoRED S2upid said:

? really? HSBC asked me. The nosey buggers I felt like telling them its none of their business how many millions I have stashed offshore but they were giving me a mortgage.

May be I should have phrased it "No lender requires to know what you have in cash/savings to make a lending decision"

They would have been asking you as they would want to cross sell you other products like ISA's etc. their fact finds are not just information gathering tools but geared towards creating potential other sales along the way.

You could have told them to bugger off and they wouldn't have declined to give you a mortgage.

[Sir Bagalot]

Google Experian and free trial, they allow you 30 days free access to your credit file.... this is what your mortgage firm will see. I was quite amazed at what detail was included.

Mortgage applications are the same as Insurance applications. No point telling porkies.