Mortgage condition re: credit card

harvey115

You should not do this while your mortgage process has not completed. I mean from the applying for a mortgage to forwarding the funds to the vendor. The additional issues you can get with even small things like this can be so much.

After you have the mortgage funds moved and you have moved into your house. It is the best time to resume your regular buying/selling of things

littlesparkles

So what about spending on the new credit card nationwide have given me? I was hoping to put the new sofa on this an order it before moving in. We do have savings to pay for things like this but I wanted to use the interest free card just so we could keep some cash in case there are any costs we haven't discovered yet!

Our new house is a new build so completion is a few months away yet.

Windlepoons

The morgage broker I am using told me that he once had a case where the mortgage was accepted. The person went out and bought loads of new furniture on credit cards. A week before completion the lender did a credit search and withdrew the offer.

Probally best to wait until the mortgage funds have been transfered and you have the keys.

I know that if I am eventually offered the mortgage I will not be spending a penny on anything until I am in the house. I cant go through this stress again lol.

rs65

Windlepoons wrote: »

The morgage broker I am using told me that he once had a case where the mortgage was accepted. The person went out and bought loads of new furniture on credit cards. A week before completion the lender did a credit search and withdrew the offer.

I know someone that had similar recently.

Put the carpets for the new house on their credit card and got a call the day before their move saying they had to clear the card before mortgage funds would be released.

littlesparkles

Yikes. Okay so it's car and sofa shopping on move in day! If I choose them in advance then it won't be a problem.