to not pay off credit cards (mortgage related)?

[amadalily]

Hi all, I need to know if I'm being incredibly stupid.

DP and I are moving house and had to take out a bigger mortgage (90% LTV and 4 times our salaries).
My salary will double by the end of the year. Financially we are secure and will have no trouble paying off the mortgage repayments (400 a month each)

However, to get this mortgage our mortgage adviser said we'd pay off our credit card debt (£6k). But we don't want to and we can't.
Our debt is all on interest free (mortgage lender doesn't look at it like that) and will be paid in full when interest free period is over (still 2 years from now!).
Our savings will cover the stamp duty, lawyers fee, etc. the extra £14k on top of the deposit (from the sale of our current place).

We are quite financially switched on, DP is an economist and I'm a Chartered Accountant.

HOWEVER, what will happen if we don't pay off the cards? Mortgage adviser said they won't ask to see a £0 balance but we must do it before completion. So how does this work?

Help

It will form a condition of your .mortgage offer. So for instance if it is being declared you are paying this debt off your mortgage offer will state that this must be repaid prior to completion and the conveyance will be requested to seek proofs prior to allowing completion. If it isn't paid off this could lead to you not being able to complete on your purchase.

@amadalily but I've said it at least twice in this thread and so have various other people and you're still not getting it:

Pay the debts or the mortgage amount is unaffordable I.e that mortgage amount is unaffordable unless you pay off those debts. Don't pay them you could be prevented from moving as they'll pull the offer last minute. Get a new mortgage broker who can at least gets names and balances correct.

Also age is irrelevant.

We had a credit card that we paid off in full every month, they were funny about that and insisted we paid it off despite us having a mortgage of less than 40% of the house value and we had savings in the bank equal to the mortgage

AIBU?
Yes
I think I'll do it anyway

Why bother starting a thread like this?!

@just well no, because that's not what happened, so stop trying to be provocative with your assumptions.

As an update, we spoke to to Bank, they said that they would not require them paid off before they release the funds but that they would want us to use the funds from this + our house sale (profit).

We instead decided to go with Bank 2, who will offer us full amount without paying off the debt at an even better rate but the package just happens to have been released following our hesitancy!

You either have to pay them off or find a different rate. As others have said, they do check!