Afternoon forumites
We are hoping to move house at some point in the next few months and will be clearing around £10k of credit card debt on completion of the new mortgage.
When trying the 'how much can i borrow' calculators, some lenders say you do not include this debt in the calculations whilst others make no mention.
Do some lenders really not take this soon to be cleared debt into consideration when determining how much applicants can borrow? After all, if the debt will definately be cleared when the new mortgage starts then is it really debt that needs to be declared?
We are hoping to move house at some point in the next few months and will be clearing around £10k of credit card debt on completion of the new mortgage.
When trying the 'how much can i borrow' calculators, some lenders say you do not include this debt in the calculations whilst others make no mention.
Do some lenders really not take this soon to be cleared debt into consideration when determining how much applicants can borrow? After all, if the debt will definately be cleared when the new mortgage starts then is it really debt that needs to be declared?