Will credit card application affect my mortgage application?

Abatement

I'm in the process of buying a house and applying for a mortgage. I actually already had a mortgage approval on a previous property which fell through so am simply transferring the mortgage to a new property. On that basis I am told it is just a case of getting the survey done - i.e. they won't be redoing credit checks etc.

I want to apply for a credit card (entirely unrelated to house purchase) but am concerned about doing so before I've got the mortgage offer. I asked the mortgage broker and he seemed sure it wouldn't make any difference, but I'm still cautious...

Am I ok to apply for the CC?

MagicCats

I wouldn't apply until you complete. If you were unlucky enough that they credit checked you again it may pull your score down. Or you could get the mortgage and the card and closer to completion your case is audited and they pull the offer as you now have additional borrowing.

rising_from_the_ashes

I'd 2nd hanging off - lenders do sometimes run another credit check (esp if it's been a while since the offer was originally made) .... not worth the risk IMHO.

Thrugelmir

Abatement wrote: »

i.e. they won't be redoing credit checks etc.

A dangerous assumption most likely by someone that doesn't actually know.

kingstreet

Do not apply for credit between making a mortgage application and its completion.

property.advert

Until the deal is done it could all fall through and you may need to move lender.

Hang fire on any other credit applications.