Getting Credit After Mortgage Offer

richieandfay

Hi everyone,

I have had a mortgage offer and was wondering would this be withdrawn if I took out credit?

The credit is for a car as our family car will cost too much to fix.

Any advice please.

Thanks

Joy_mate

What's the time period between ur contract exchange (end of sale) and given mortgage offer?
Some lender might do soft check before they release money during exchange of contract during sale.
But not compulsorily.

richieandfay

My Offer is with Barclays/Woolwich. Offer is in the post should receive it today.

ACG

Have you asked Barclays?
The general rule of thumb is to avoid until after completion, however you also have a question on the application that asks if you plan on taking out any new credit...I am guessing you answered that as no?

If you take out new credit before completion and you no longer pass their credit score and/or affordability then you risk having your offer withdrawn.