We’d like to remind Forumites to please avoid political debate on the Forum.
This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
PLEASE READ BEFORE POSTING: Hello Forumites! In order to help keep the Forum a useful, safe and friendly place for our users, discussions around non-MoneySaving matters are not permitted per the Forum rules. While we understand that mentioning house prices may sometimes be relevant to a user's specific MoneySaving situation, we ask that you please avoid veering into broad, general debates about the market, the economy and politics, as these can unfortunately lead to abusive or hateful behaviour. Threads that are found to have derailed into wider discussions may be removed. Users who repeatedly disregard this may have their Forum account banned. Please also avoid posting personally identifiable information, including links to your own online property listing which may reveal your address. Thank you for your understanding.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
Urgent advice needed ref my house purchase / PCP car loan
JRW1979
Posts: 4 Newbie
Morning all,
So I've exchanged on my sale but waiting to exchange on my purchase which should be sometime next week. I have my mortgage offer in place and we're just waiting for my solicitor to ask me to come in and sign on the exchange.
Yesterday I put a deposit down on a new car via a PCP agreement. At this stage that's all I've done and not signed anything OR gone through any credit check with the dealer.
My question is - if I manage to exchange next week (with completion at month end), could I then go through the car credit check before completion on the house or would this jeopardise the house purchase in any way.
Perhaps I'm being overly cautious but I wouldn't want to get the car and somehow put my mortgage offer in risk.
Thanks for your time
So I've exchanged on my sale but waiting to exchange on my purchase which should be sometime next week. I have my mortgage offer in place and we're just waiting for my solicitor to ask me to come in and sign on the exchange.
Yesterday I put a deposit down on a new car via a PCP agreement. At this stage that's all I've done and not signed anything OR gone through any credit check with the dealer.
My question is - if I manage to exchange next week (with completion at month end), could I then go through the car credit check before completion on the house or would this jeopardise the house purchase in any way.
Perhaps I'm being overly cautious but I wouldn't want to get the car and somehow put my mortgage offer in risk.
Thanks for your time
0
Comments
-
Why take the risk?
You already have the possibility of needing short term accomodation/storage if your purchase date is delayed for any reason. Why take on any more unnecessary risk before completion?0 -
The lender can credit check you any time up until completion.
What will happen if you get rechecked, they see a massive undeclared credit commitment and then pull your mortgage offer?
This is a risk just not worth taking. Delay the new car until you have completed.0 -
Thanks both. Thought as much0
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 352.2K Banking & Borrowing
- 253.6K Reduce Debt & Boost Income
- 454.3K Spending & Discounts
- 245.3K Work, Benefits & Business
- 601K Mortgages, Homes & Bills
- 177.5K Life & Family
- 259.1K Travel & Transport
- 1.5M Hobbies & Leisure
- 16K Discuss & Feedback
- 37.7K Read-Only Boards