Applying for credit card before mortgage completes

debbie1990

Hi everyone,

A couple of weeks ago we received our official mortgage offer through Halifax. We were thinking of applying for a credit card with 0% on purchases which could come in handy as we need a new bed and other few things for our new house. My solicitor is currently doing her searches etc and has not yet given us a completion date, although we aim for the end of June. Would it be wise to take out any new credit right now or are we better waiting?

Thanks

Yorkie1

The standard opinion on here is not to do anything which could impact your credit record until you have completed. That includes not applying for new lines of credit.

Better to wait.

Edit: if all else fails, you could get a bed on freecycle, or an airbed for the time it takes to then select stuff for the house and get any new credit you need.

ACG

Dont do it.

More so now than ever before. A lot of lenders ask if you intend to take out any new credit in the near future... If you answered that as no but do - it could be deemed as mortgage fraud (as you have lied).

Even if they did not ask the question, just dont. Wait until it completes - better to have a house and no furniture for a few weeks rather than than a shiny new credit card with no house.