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Are there further credit checks after mortgage offer and before completion?
Hugh1983
Posts: 18 Forumite
Hello,
My Son was offered a mortgage and is waiting for it to all go through. Apparently contracts are in the post to be signed. There is no chain so completion date is not that far away.
My question is.. does the mortgage company do any further credit checks before completion or they simply do one check when they authorised the mortgage offer. The issue is that my son wanted to do a 0% money transfer from his credit card but the promotional date expires very soon and completion is unlikely to have occoured by then. Will he be jepordising his mortgage offer by applying for a 0% money transfer in the days before completion?
Many thanks in advance.
My Son was offered a mortgage and is waiting for it to all go through. Apparently contracts are in the post to be signed. There is no chain so completion date is not that far away.
My question is.. does the mortgage company do any further credit checks before completion or they simply do one check when they authorised the mortgage offer. The issue is that my son wanted to do a 0% money transfer from his credit card but the promotional date expires very soon and completion is unlikely to have occoured by then. Will he be jepordising his mortgage offer by applying for a 0% money transfer in the days before completion?
Many thanks in advance.
0
Comments
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You son should not do anything regarding his credit card regardless of how slim the chances may be of it affecting his mortgage.
The risk reward is too great.
0% credit card deals are two a penny.I am a Mortgage Broker
You should note that this site doesn't check my status as a Mortgage Broker, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.0 -
Hello,
My Son was offered a mortgage and is waiting for it to all go through. Apparently contracts are in the post to be signed. There is no chain so completion date is not that far away.
My question is.. does the mortgage company do any further credit checks before completion or they simply do one check when they authorised the mortgage offer. The issue is that my son wanted to do a 0% money transfer from his credit card but the promotional date expires very soon and completion is unlikely to have occoured by then. Will he be jepordising his mortgage offer by applying for a 0% money transfer in the days before completion?
Many thanks in advance.
Hi I would not risk it as the bank I took my mortgage out with checked again twice not before completion. Also even if chain free it does not mean it will necessarily go through to complete quick. For example i was a FTB and there was no upper chain with the seller either but due to legal paperwork issues and delays with the freehold co answering questions it still took from
September (When offer accepted and got a mortgage agreed) until 19 January before we completed.MFW#105 - 2015 Overpaid £8095 / 2016 Overpaid £6983.24 / 2017 Overpaid £3583.12 / 2018 Overpaid £2583.12 / 2019 Overpaid £2583.12 / 2020 Overpaid £2583.12/ 2021 overpaid £1506.82 /2022 Overpaid £2975.28 / 2023 Overpaid £2677.30 / 2024 Overpaid £2173.61 Total OP since mortgage started in 2015 = £37,286.86 2025 MFW target £1700, payments to date at April 2025 - £1712.07..0
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