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Mortgage Application & credit checks.
Tlg1991
Posts: 178 Forumite
I am in the process of completing our mortgage to go through (FTB) we are early on yet only paid for the valuation.
the planned move is towards October November and im having to save extra for how much we offered for the deposit. anyway it will all be clashing with when my car insurance is up for renewal. i currently have paid it annually and want to do so again but might not have the money to but will easily be able to pay it the following month.
i was thinking of getting a new credit card to pay it off in full with 0% interest for X amount of months (im good with CCs i have used one for the past 3 years soley to build my credit score and never missed anything) but wasn't sure if that would affect my mortgage application as i don't know how often they check my credit file, as in just at the beginning or through the whole process. either way something will appear on my credit file if its not a new credit card it will be finance for the monthly payment which i really do not want to do.
hope i made my self clear. Thanks
the planned move is towards October November and im having to save extra for how much we offered for the deposit. anyway it will all be clashing with when my car insurance is up for renewal. i currently have paid it annually and want to do so again but might not have the money to but will easily be able to pay it the following month.
i was thinking of getting a new credit card to pay it off in full with 0% interest for X amount of months (im good with CCs i have used one for the past 3 years soley to build my credit score and never missed anything) but wasn't sure if that would affect my mortgage application as i don't know how often they check my credit file, as in just at the beginning or through the whole process. either way something will appear on my credit file if its not a new credit card it will be finance for the monthly payment which i really do not want to do.
hope i made my self clear. Thanks
:j
0
Comments
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No new credit between application and completion.I am a mortgage broker. You should note that this site doesn't check my status as a Mortgage Adviser, 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. Please do not send PMs asking for one-to-one-advice, or representation.0
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Can you cycle to work, store the car on a SORN, and just pay for 'laid up' insurance ?
When my parents bought their first house they sold the car and the telly to fund the deposit.0
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