Please advise have I just ruined everything??

summer888

Hello,

First time posting and I think I have made a terrible error. I have my mortgage offer with Barclays my house purchase is progressing nicely with soliciters now. Today went to homebase to take advantage of their kitchen sale half price plus 20% off.

The sales man talked me into the buy now pay in 12 months deal now I have the cash to pay outright for this but I thought this could be handy just incase something urgent croped up while doing work on the house the extra cash would be nice then just pay it off with whats left of my budget.

The problem is its a loan and infact with Barclays who the mortgage is with so have i just messed this all up? A friend mentioned tonight this could be a massive problem it didnt even occur to me.

The sales man said the funds wont be applied for until the kitchen is delivered which isnt until May Barclays have said after I rung them they dont have a agreement until the kitchen is delivered also

If I cancel this now will I get away with this or should I let the bank know?

Any advise would be great

betmunch

If you have applied for credit since the mortgage application you need to declare this to the lender as its a material change.

Having said that if its not going to start until May cant you simply cancel it?

cns06

You could use the 14 day cooling off period to cancel.

anselld

summer888 wrote: »

I have my mortgage offer with Barclays my house purchase is progressing nicely with soliciters now.

By "progressing nicely" do you mean exchanged contracts? If not, then why on earth are you even buying a new kitchen? *Nothing* is certain until contracts are exchanged.

Rollinghills

I would cancel it, not worth the risk

summer888

Hi everyone, thanks so much for taking the time to reply. This is my first house so i am a bit niave i havent exchanged yet but the kitchen was sold saying i could cancel foc before delivery and with the great offer on i didnt want to miss out silly i know.

If i cancel will that be it sorted then? I will get onto them today to sort that out

betmunch

if you cancel now there no impact to affordability.

If they have done a credit check already then this has a tiny chance of having an impact

summer888

Ok thats great hopefully that should be fine thanks once again

It doesn't help the loan is with the mortgage provider either i guess. I suppose ive made a rod for my back here

Landofwood

Never heard of someone buying a kitchen when they don't own the house yet.

amnblog

Getting far to excited Summer.


Cancel the order immediately.


Even if your end of things are progressing nicely - vendors can and do pull out at any stage if it suits them.


We obviously need to watch you.


The salesman at Homebase (a bit of publicity for them) sounds like a clown. Who would sell a kitchen to someone who does not own a property.

summer888

I definitely got carried away going to homebase this afternoon to cancel everything. It was only when my friend said pretty much what everyone is saying here did i realise everything is not 100% completed. Hopefully no real damage is done. Also i know it sounds daft buying the kitchen i thought it was a good idea as i got the saving plus could cancel in full if needed it seems stupid now though:)