Mortgage almost complete - increase CC limit?

[Mummyoftwokids]

Tried to squeeze in my situation in the title but it doesn't make much sense 😆

Basically, my mortgage is due to complete in 2 weeks time when I'll move in. The Lendor will be sending the funds the day before.

The problem is that I need to increase my credit card limit from 2k to £7k - to pay for stamp duty and legal fees but I know that's frowned upon. My solicitor is ok with cc. My house deposit is in my bank so that's ok.

Anyway, I know lenders restore up until they release the funds. I'm scared if I increase the limit, it will show up and it won't go ahead.

I was going to pay the stamp duty and legal fee the same day AFTERA NatWest release the funds.

But I do need the credit limit increased but I don't want to ring any alarm bells. Alternatively, I can get a bank loan that same day which is deposited immediately. But CC is 0% interest for another 2 years and I can easily plug away at that.

Any advice would be appreciated. I know it's all a bit messy.

Could you get a loan the same day (once you have the funds) and then increase the CC limit the next week and pay the loan back with it?

Thanks, but would that not mean I need a money - transfer card tho? My currently M&S one doesn't have this option. I didn't really think of this option though.

Not saying all situations are the same but we recently completed and our mortgage is with Natwest also. They credit searched us back in feb when we applied for an AIP, submitted full application for property we eventually bought in May and no further credit check was done other than that first one in Feb.

Also remember they won’t know about any new financial info like limit increases until your bank reports to the credit agencies which may be after you complete. I know my bank sometimes doesn’t report for a couple of months at a time.

Actually just thinking, our solicitor sent us one bill which covered the deposit, stamp duty and their fees all together and requested a CHAPS or faster payment. Unsure how this would work from a cc. Also there were added charges if the money came in more than one payment, eg from different accounts or sources. Your solicitor may be different though of course.

Thank you!

I thought that too, that sites like Experian take ages to update so any credit wouldn't show up - but maybe banks have a way of seeing? Lol

It's not like I'm using the loan for the "house" but for the fees....