Home Improvement Loan Credit Search

MrsChillers

Hi Experts!

My husband and I have exchanged contracts on our first house and we complete next Tuesday (26th).

We need some work doing on the roof as its in a bit of a state but all of our savings have gone towards a deposit for the house which has now been sent to our solicitor.

Our mortgage advisor has told us not to apply for any credit until we have completed as our mortgage provider (Natwest) may do a last minute check and see we have applied for credit. What are your thoughts on this? Am I able to look at loans on the MSE website but first I have to go through a soft search? Will Natwest see it?

Tixy

Best not to apply for anything at all, no soft searches or anything until after you have completed.
Any soft searches won't really give you an indication anyway, as your financial position would have changed by the time you make a full application.

MrsChillers

Thank you Tixy!

I think you are right, it is better to be on the safe side

Annoying we have to wait a while in between exchange and completion but am thankful as we are a lot closer than we were!

Foxy-Stoat_3

How bad is the roof, I assume you got a good discount off the seller?

You should wait for 6 months after you move it to allow all the credit reference agencies to catch up with the change of address and your electrol roll to be updated.