Please help!!!

Ellevxo

Hi there.

Needed some advice re. pre-completion and new car fianance.

I'll start from the beginning to add insight.

Me and my OH are first time buyers. Nationwide gave us a DIP back in September so we put an offer in on a house beginning of October which was accepted.

Went back to Nationwide to get the mortgae, who then said no.

Found out, much to my surprise, OH has 3 defaults on his credit file from when he was 19 (now 25) which made it very difficult to obtain a mortgage. My credit score is in the "excellent" category.

We managed to find a building society who would give us a mortgage and received a formal offer on 23rd December, two months after making an offer on the house.

Valuation happened what seems an age away.

Just after Christmas, my car blew up. I commute 100 miles a day for work so a car is necessary and obtained a car on finance, in my name only.

Met with solicitors on 13/1, signed papers ready to exchange once damp proofing had been done on the property.

Damp proofing has now been done and we are waiting for the retention to be lifted to exchange.

I've now been reading about mortgages being declined even after a formal offer has been given and really needed some advice on my pressing matter.

We've been through so much stress and angst th epast 12 weeks and I really thought we were getting somewhere and now feel like it's being snatched away again.

Thanks in advance.

kingstreet

If the lender checks your credit again before completion, the new credit will come to light and affordability will be reviewed.

If this means your new mortgage is no longer affordable, you will see your offer withdrawn.

If it isn't you'll be allowed to continue.

Standard advice - do not apply for new credit between applying for a mortgage and completion.