Purchasing household items

cookie_monster_2

Were just waiting for our full mortgage offer to be approved and were wanting to purchase a new corner sofa for our new home. The sofa has one more day on sale. We are wanting it on interest free credit. Will this affect our mortgage application?

bris

Sofas are always on sale, don't believe this last chance to buy crap they are always selling. The sofa will be even cheaper next time, best not to rock the boat.

Kynthia

You are taking a risk if you get new credit before completion. Unless it was something that was vital and couldn't wait, plus you were borrowing less than your lender felt you could afford I really wouldn't risk it. I have heard of someone having to pull out of their purchase last minute due to the lender finding out they had spent lots on new furniture on the credit card. The worst case scenario is that the lender does another credit check and withdraws the offer between exchange and completion, as then you would be unable to complete and liable for at least 10% of the purchase price to the seller.

Vampgirl

I second what the others are saying - don't risk it!

We are in exactly the same boat but have come to the conclusion that its not worth risking the mortgage for the sake of a sofa (which will almost certainly be on sale again within a few months).

PasturesNew

Wait until you get your keys and stand in the space..... you might find you prefer something else... or maybe that one'd be too big for the room ... or it should go in a different corner ....

Waaaaiiiiiiit.

Hillbilly1

And aside from all the good advice above it will ruin the positive buying karma and you won't get the property.

I know waaaay to many people who have furniture, but not in the property they bought it for!

needabed

Get a free sofa off a recycling website or a cheap one off ebay.

Our place needed redecorating, so we held off buying big furniture as it would of been in the way. Then when we started thinking about a sofa a neighbour left theirs out for the council to collect. Scuffed and worn, but we took it and covered it with a sheet, looks fine and does the job.

dimbo61

You really need to measure up all the rooms and Mark down all the sockets and Windows and doors.
Would that 210cm sofa fit in a 195cm space.
Can you open the door or swing it back all the way without hitting the furniture.
Really you want to sit down once you have the keys and look at say an Argos catalogue for sizes !!!! Or Ikea, Focus, M& S etc
Consider your budget and what you really need for each room.
Basics double bed with drawers under bed and storage.
Washer or washer/dryer, fridge freezer if not fitted, cooking
Without seeing the property and if new build no one can tell you what you need.
Wait till you have the keys.
You can order a new sofa 24/7 365 days a year.

benjus

IIRC someone on here even claimed that the mortgage offer had been withdrawn between exchange and completion because they maxed out their credit cards on things for the new home - meaning that they could have lost their deposit. That's a bit extreme, but I think any new credit between applying for a mortgage and completion is a bad idea.

MadelinesMum

Sofa shops have continuous sales. I'll bet that you will find one more or less the same, for the same price if you wait until after your mortgage is approved. Don't feel pressured into buying it.

dgtazzman

The sales aren't continuous, they usually leave 1 or 2 days in between to meet legal requirements

I'll second the notion to wait though, bought our new sofa's before moving into our new house and caused quite a few problems. They phoned us out of the blue and said they were delivering, nearly a month before they were supposed to, so we had to scramble and find somewhere in our old place to store them for a month. Also, finally getting them into the room, we probably would have been better off with a 3-seater and an armchair, rather than the 3-seater and 2-seater we bought, though we managed to make it work in the end.