Remortgaging but wants to buy furniture on credit

james007ago

Hi guys,I and my partner are planning to remortgage at the end of the year. However we would like to buy furniture (around 3k) to completely furnish the house we lived in. We would like to take advantage of the credit free interest/6 months repayments. If we go this route, will it affect our ability to remortgage? Also, we probably will stay with our current mortgage provider, do you think we should go straight with them or use a broker?
Here is our mortgage info: Bought house a year ago for 300k in north london (this has now risen more). We put deposit of 90k. Over the past year we overpaid (and will continue to do so) around 150pcm. Also we put a lump sum of 21k on top of the overpayment. We dont have any existing loan or zero balance on credit card.
Thank you for your help.

kingstreet

That isn't a remortgage.

You're asking your current lender for a customer retention product. There may be no further status checks, but some lenders will re-check affordability even when there's no change in the mortgage amount.

You need to find out from your lender how it works.

If however you do decide to remortgage (using a new mortgage fro a new lender to repay the old one) the credit checks carried out for any new credit would best be left until after the remortgage is completed.

james007ago

Thank you for your reply.
If we stay with the current lender (Natwest), will it be better then to approach them directly or pay a broker to get a better rate?
If I decide to take credit for furniture purchase, I should finish paying it 3 months before our mortgage deal ends. Will this pose a problem?

kingstreet

You can pick a new NatWest product online. AFAIK all you need is your mortgage account number

I can't imaging why a broker would be needed for that.

If you do this, nothing else you do has any relevance. You can buy your furniture without fear of any mortgage issues. If you do decide to remortgage elsewhere, this won't be the case as recent searches and increased outgoings may be taken into account.