Buying broadband before mortgage complete

mesut_sanchez

Hi all,

I am in the process of buying a new flat. I am taking out a mortgage with Halifax and am expecting a formal offer next week. The valuation has been done and came back fine. I'm also hoping to exchange and complete by the end of the month - with my solicitor already having completed most of conveyancing and local searches.

At the moment, BT have half price broadband for 12 months and £125 sainsbury's vouchers. Having spoken to them, they say I can cancel the product within 14 days without paying a penny and can have a 45 day installation wait - which gives me more than enough time to complete the purchase of the flat.

However, BT will do a credit search and I do not want this effecting my credit score before Halifax have formally offered the mortgage. My question is - should I go ahead and order the broadband?

Should also mention, BTs offer ends today so need to make a quick decision!

gentlewoman

I'm sure BT will have another offer in 6 months time. Or another provider if not BT. They always come up with these 'fabulous' offers to get new customers on board.

Why risk a decline for such a trivial thing? :-)

PS. I've no idea if your BT application will affect your mortgage application at this stage, I doubt it... but if I were you I'd patiently wait to get that offer.

mesut_sanchez

Thanks for the advice. I'm sure you are right about the broadband offers!

At the moment, nothing is more important than making sure the completion of the flat goes smoothly.

TBeckett100

i went with DirectSaveTelecom, i was worried about a credit check, but given they never asked for my current address (just about to move into the new build), I'm not convinced they credit checked me. As someone said when replying to me previously, up and down the country people tend to sort out their phone lines before they move in.

Thrugelmir

Everyday normal purchases won't impact how a lender views you as a potential borrower.

kingstreet

No searches for new credit of any kind between agreement in principle and completion.

What you plan certainly won't do any good, but it does have the ability to inflict harm if your case was borderline in the first place.

Halifax has a "live" system which re-scores every time something happens, such as receipt of valuation or offer issue. It also takes its monthly update from Experian around the middle of the month, so anything which happens after the update which changes your profile may be "unhelpful."

On the other hand it may make no difference whatsoever and I may be exaggerating. Still, I'm happy here where I've lived for the last eleven years and I'm not looking for a mortgage.

sebtomato

mesut_sanchez wrote: »

At the moment, BT have half price broadband for 12 months and £125 sainsbury's vouchers.

You also missed the significant cashback (£150) if you place the order through TopCashBack.

Once the order is placed, you can indeed delay the go live date (and postpone it later on again yourself, so no need to select 45 days from the start).

DandelionPatrol

mesut_sanchez wrote: »

Thanks for the advice. I'm sure you are right about the broadband offers!

At the moment, nothing is more important than making sure the completion of the flat goes smoothly.

I think that the biggest risk for you is that by doing this, you could end up having your seller's broadband or phone cut. It does happen and could mightily annoy your seller.

Do not do anything with utilities until you have exchanged at least