Keeping my mortgage offer safe - First time Buyer

dismet

Hi all,

First poster

I hve gone through the process and found my home, had my offer accepted, mortgage accepted, exchanged and have a completion date.

I am purchasing via mortgage, and it is with the Leeds Building Society.

I was having a conversation with someone at work who said to not take things out on finance before the completion date, as the lender may pull your offer.

Of course alarm bells started ringing, and a few google searches have also advised against this (although the article I read was in Canada)

So far I have ordered my broadband to be installed (which was subject to credit check) and this weekend I was about to go and order my sofa on finance. These will be the only two things that I will order on finance, the house is well furnished and we have been gifted a lot of things (luckily) so I would assume that these would be the only things that will be taken on "credit". I have not requested any additional credit cards or taken any loans in this period.

Should I be worried about placing the order for my sofa on finance this weekend? Does anyone know any experience of the mortgage being pulled? The payments will be around £18 a month.

If I need to provide any further information please let me know.

Any reponses are much appreciated!

libf

I would wait until after completion, just to be sure. It's not ideal to be without a sofa when you move in, but it's not that bad either. Think I had to wait a month for mine when I got my first place...

Sheep

I would honestly wait too however I'm sure it would be fine.

We are about to apply with Leeds. Just waiting for my broker to visit on Friday. How did you find the experience witht Leeds? They get alot if bad reviews on here for their long application process.

Thanks

Sheep

dismet

Sheep wrote: »

I would honestly wait too however I'm sure it would be fine.

We are about to apply with Leeds. Just waiting for my broker to visit on Friday. How did you find the experience witht Leeds? They get alot if bad reviews on here for their long application process.

Thanks

Sheep

Typically it's one from DFS and we've agreed on the sofa (after much deliberation) and the sale ends 3 days before our completion date - I am hoping it would be fine as I have taken nothing else out/applied for cards or loans.

In regards to Leeds - as I am a first time buyer I am not sure how they fair in relation to others but the application did seem quite long (whether that was my broker or not I am not sure).

They wanted my broker and my solicitor to re-confirm all the information that I had given them which elongated the process

They were contacted with an urgent request from my solicitor however and they did get it sorted the next working day, and the valuation report provided me with enough information to warrant a survey.

Hope that helps

TBeckett100

You are so naive

Any homeowner will tell you, Jesus will rise again before the DFS sale ends.

dismet

TBeckett100 wrote: »

You are so naive

Any homeowner will tell you, Jesus will rise again before the DFS sale ends.

Haha yes - I know, but for the period of the next sale, this particular sofa, will not be.

Regardless, do you have any thoughts on my dilemma ?

annpaul13

When We Purchased Our House In March we went into DFS and Ordered Sofa Paying 10% Deposit, which I think is Required even on Finance. You can then Set up the Finance nearer to Delivery Date so we were told which might take you past completion Date

House_hunters

Suggest you read the conditions carefully within your mortgage offer. Typically wording around the following is included, which may not be definitive, but my advice is to save any worries, wait to avoid any probs occurring with your lender.

'Your offer is subject to your financial or personal circumstances not materially changing' the word materially means different things to different people.

dismet

Thanks for the advice all - probably best for me to wait then - just to be 100% sure :T

Thrugelmir

dismet wrote: »

Regardless, do you have any thoughts on my dilemma ?

Buy a second hand sofa. Don't waste your money on an overpriced DFS one.

amnblog

Sit on the floor at first like the rest of us did.


If you cannot stand the hardship, buy something on Ebay.