Loan while remortgaging

dfw128

Our mortgage is in my husband's name only as I've had credit issues in the past which i'm still paying off. He manages his money well and i think would be considered to have a good credit score.

We are in the process of remortgaging with the transfer due to go through from Halifax to Bank of Ireland on 4th January. We are fixing for 5 years as we've managed to get a good deal and we want to get a new kitchen including appliances etc. which we will need to borrow money to afford.

We have priced up a few options at B&Q and intend to visit others. B&Q called us to say they have an offer of free appliances between 22nd Dec and 2nd Jan so my questions is basically will Bank of Ireland have done all of the credit searching requirements in advance of this, and if so would it be ok to look to take out finance for the kitchen, or will they still have checks to do on his credit file? We do want the kitchen but wouldn't risk the mortgage over it when we could hold off a week - though then the free appliances offer will have ended.

Thanks in advance.

Westminster

I would be negotiating with B&Q on the basis that you are not in a position to to purchase before the 4th Jan. The store manager should be willing to do a deal to secure your business.

kingstreet

Have you had this new finance factored in to your mortgage affordability?

Assuming not, the standard line is "No new credit between application and completion."

amnblog

We had a call from a client this week who is sitting on an offer to complete next month.

Local dealer has fantastic car deal, once in a lifetime, will be paying less than I am now, need to decide today, etc etc.

'No new credit between application and completion' came the firm reply.

dfw128

Thanks for the responses, we will just wait it out. I'm sure other kitchen offers will come along...we were in b&q yesterday speaking to the advisor and she said there is a chance they will extend it if they don't sell their allocation. Remortgage is a much better deal than our current one so is definitely the priority.