Using Credit Car between Exchange and Completion

LJG1985

I have recently been approved my mortgage application and have exchanged on a new build. The process was all really smooth from start to finish with Santander (Apart from the speed they post documents back!).


As our purchase is a new build, there is now a 3-4 month wait until completion. Currently saving to pay for optional extras and furniture we would like.


I would like the 'safety net' of using a credit card if required for these purchases. My question is, would this effect my mortgage now? What is the likelihood that Santander will run further affordability / credit checks after exchanging contracts?


Hopefully I will not need to spend on my credit card, but if they suddenly say completion is next week, I would like to know that I can use the credit card without worrying!


Thanks!

lee111s

If you pay it off on time it shouldn't be an issue.

LJG1985

Thanks.

I always make payments on time, but I do not want to cause an issue if there is a different outstanding balance to that declared on my application.

lee111s

Lenders aren't silly and don't expect you to not spend any money between offering a mortgage and completing.

You're not taking on additional credit that they didn't know about at the time of offer so it won't have an affect on their views as to how much they'll lend you.

LJG1985

Thanks for your info.

No it will be less credit as I am about to close down a credit card that was open when the application went it. It was just to see if it would effect us actually completing on the house. Do not want to ruin this!