Advice on period between offer and exchange

nataliekatemese123

Hi

Just been told our offer is in the post, which is great. Obviously now we are handing over to the solicitor to do their thing.

I don't really know much about this bit in between offer and exchange (we are FTB) and would appreciate some insight into this period.

Is it a no-no to use credit cards in this period? We are away for a few days in two weeks and will be buying our wedding bands. And is the offer likely to be withdrawn now? Are we pretty much ok?

ACG

Did you tell the lender there would be a balance on credit cards?
If not, does it fit affordability with the balance outstanding?
- If it does, you should be ok.
- If it does not, then it would not be a great idea to apply and/or spend on credit cards prior to completion.

nataliekatemese123

Hi ACG, thanks for replying.

We have a very small balance (we utilise maybe 15%) on CC that they weren't worried about. Mortgage wise we are borrowing around 238k when our affordability said we could borrow 320k. In your experience do you think a couple of hundred pounds between offer and exchange would make them worried?

ACG

Probably not with so much room to play with but you should really speak to the lender and ask them.

nataliekatemese123

Will do - thank you!