Mortgage condition - does the lender actually check, and how/when?

[MovingToPlan]

I have a mortgage condition to pay off a credit card before completion, but my conveyancer doesn't expect that this will need to be proved in advance of drawing down funds. I can't see any detail in the paperwork from the bank (and they don't have the details of the actual credit card name/number in their paperwork), and my broker simply referred me to my conveyancer for further details.

It's almost paid off, so it's not an issue either way, but I'd like to be prepared if they ask for a statement or evidence of it being paid in full. We are expecting to complete in 6 weeks, and I'll have it paid off in 2 weeks, so it may not reflect in my credit score in time.

If you've had this condition how did your lender check it was fulfilled?

They didn't check.

Thanks- was this recent by any chance?

No check also. I didn't pay it either. I was happy with my 0% offer and would have only paid it, then put something else back on the credit card... but it wouldn't of had the 0% interest. So it seemed a no brainer to not pay it and use that money to pay the other things we needed.

It's strange they would make a condition and never check on it. I've been working hard to get it paid off too!

I have read on here before that they check something like 1 in 20.

Gah.

Idk if your finances will allow, but you can pay off the full balance by bank transfer. We built up 2.5k on a recent week’s spend and I got my OH to speak to the bank, who gave him their bank details, and we simply paid it online without waiting for the credit card statement to arrive, so it got paid off three weeks early. I didn’t want it lurking when we are likely to apply for a mortgage very soon.

Yes, I'll be ready to pay it in full before completion but I'm tempted now to leave it in my 5% savings account til the last minute to see if we're one of the 19 or the lucky 1 in 20.

Sunday morning bump! Does anyone else have experience of this?

If you’ve got the money and can pay it off within 2 weeks why wouldn’t you just get rid of the debt? Regardless of wether it will be checked or not

I'm just exploring other possibilities. I've always intended to pay it off.

@MovingToPlan did they ever check?

Nope. Stressing over nothing in the end!

lol good to know!