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Mortgage Credit Checks
somethingcorporate
Posts: 9,449 Forumite
Hi, thanks for reading.
We had our mortgage offer through last week from Nationwide and want to know if we'll have any more credit checks from them prior to release of the funds (when we get to completion).
I ask as we intend to take out a 0% credit card to buy some new bits we want in the new house - we have the funds to pay for them, but would rather the protection and to keep some of the cash as a buffer for any unforeseen emergencies but do not want to risk the mortgage for this extra credit convenience.
Any help would be much appreciated!
SoCo
We had our mortgage offer through last week from Nationwide and want to know if we'll have any more credit checks from them prior to release of the funds (when we get to completion).
I ask as we intend to take out a 0% credit card to buy some new bits we want in the new house - we have the funds to pay for them, but would rather the protection and to keep some of the cash as a buffer for any unforeseen emergencies but do not want to risk the mortgage for this extra credit convenience.
Any help would be much appreciated!
SoCo
Thinking critically since 1996....
0
Comments
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Hiya,
The general advise is normally not to take out any new credit agreements until after you've had the funds released & completed as they could decide to recheck something.0 -
Absolutely right. Do not touch your credit file until you have completed.I am a Mortgage Broker
You should note that this site doesn't check my status as a Mortgage Broker, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.0 -
OK, thanks guys
Thinking critically since 1996....0 -
Agreed with Blondygirl, DO NOT take any extra credit until after you have the keys to your new home.
Good luck!0 -
Don't take out credit - credit checks are a bit more sophisticated than you think and can be reactive, i.e a system notifying a lender if new credit has been taken out rather than someone checking. Wait until the completion.0
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Great, I didn't know that. Thanks all, definitely will not be taking out another card prior to getting the keys!Thinking critically since 1996....0
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