Getting an overdraft mid-mortage app...

mxgirl

Hi!

I am a FTB with a mortgage offer in place, so currently waiting for the solicitors to do their bit and whatnot so exchange/completion can be arranged.

I currently have no overdraft arranged on any of my debit cards as I havent needed one up til now but thought with the prospect of all these new bills going out (I currently live with parents!) I should make sure I have an overdraft in case something goes wrong.
I'm not intending to use it but its a just in case for the first few months when bills go out at random times for random amounts.

My question is - would arranging an overdraft on the current account my mortgage will be linked to affect the application at all? I have been offered it but I dont know if any last minute checks the lender makes would get upset by a change to my account?

Thanks in advance for any help

kingstreet

If it requires a credit search, standard advice is no new applications for credit of any kind, from mortgage application until after completion.

mxgirl

Thanks Kingstreet, I thought that would be the case.
I'll just make sure its on my to do list when the purchase is complete!

mxgirl

Sorry for dragging this back up - but along to same lines - how do i go about organising contents insurance for my flat for the day I move in if I shouldnt set up a direct debit before moving day? Can I arrange it the same day with it being in force from the moment i press pay? Or find other means of paying for it without needing a credit check?

kingstreet

You can organise contents cover on completion day quite easily, if necessary.

Most insurance requires only an identity check, rather than a credit search so you should be fine the day before for something like that.

mxgirl

Ok thanks, I was looking at getting the broadband and phone set up and that specifically said credit check so will wait until Ive moved to do those!