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Further credit check?
sallygreen30
Posts: 12 Forumite
So I got my mortgage offer from Barclays on Tuesday and on Friday I bought a £1500 sofa on finance. We took it on finance as its interest free and we plan to pay it in full by next month as a family member is gifting me money but I wanted to secure this sofa as it was a 'one off' deal.
I happened to stumble upon someone else's post where they said Halifax done a final credit check prior to exchanging funds and now I'm
Terrified in case Barclays pull my offer! I had no idea this could affect it! Ahhhh!
I happened to stumble upon someone else's post where they said Halifax done a final credit check prior to exchanging funds and now I'm
Terrified in case Barclays pull my offer! I had no idea this could affect it! Ahhhh!
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Comments
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What's done is done, as a rule of thumb for future viewers, don't apply for finance before completion."It is prudent when shopping for something important, not to limit yourself to Pound land/Estate Agents"
G_M/ Bowlhead99 RIP0 -
Hmmmm. Well i hope it will be okay. the finance is with barclays and the mortgage is with barclays!0
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sallygreen30 wrote: »We took it on finance as its interest free
That's an illusion. Finance cost is built in retail price of the product. Sofa's aren't expensive to make.0 -
The sofa was reduced as its ex display from 2500 to 1100 with a free 1300 chair. It's a top of the range sofa. It would've been the same price if I bought it outright or if it was ex display, so it is interest free.0
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If you were tight on affordability (or profile) there is a real chance that 1) the lender will run subsequent credit check 2) the credit [which will not be treated as interest free] could tip the balance.
These deals are available all the time - you appear to be a salesman's dream.
The fact that it's "with Barclays" just means they see it sooner !
I'm not trying to scare you - I hope you get your mortgage. But I am trying to scare the next person which thinks they can't cope with less than 60 inch TV and watching it from deckchairs for a few weeks !Hi, we’ve had to remove your signature. If you’re not sure why please read the forum rules or email the forum team if you’re still unsure - MSE ForumTeam0 -
Not a smart move but hopefully you are not tight on score or affordability.
I have yet to see a furniture that does not regularly repeat their 'one off' deals.
We had a client last month that took a Mercedes on finance at £465pm after mortgage application (without recourse to our team) and 'got away' with it.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 -
Why didn't you just wait for the money? You haven't completed so obviously aren't putting the sofa in your new property!0
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