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New Home Upgrades - Using CC for protection?
almosthappy
Posts: 3 Newbie
Hello,
Me and OH are about to buy a new home with Linden in a Bedford. We're discussing options of upgrades with them, and OH had a thought on using the protection you get with CC on purchases to cover the upgrades, that way if they're badly done or the developer refuses to fix them, we're covered in the eventuality.
Wanted to ask - does anyone know if this is possible? Any experience, or warnings to go with it?
We are FTBs, a bit green though trying not to be 🙂
Me and OH are about to buy a new home with Linden in a Bedford. We're discussing options of upgrades with them, and OH had a thought on using the protection you get with CC on purchases to cover the upgrades, that way if they're badly done or the developer refuses to fix them, we're covered in the eventuality.
Wanted to ask - does anyone know if this is possible? Any experience, or warnings to go with it?
We are FTBs, a bit green though trying not to be 🙂
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Comments
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Bad idea.
It would affect your affordability for a start.
I'd also seriously consider whether developer upgrades are worth it... Especially if they're selling you a Bedford..
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Do you really want to pay vastly increased prices that developers charge for upgrades - particularly with a CC? As pointed out spending on a CC before any final credit checks on affordability by whoever is providing the mortgage could be a mistake unless you are planning to pay the balance off straight away?0
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Why would you pay inflated developer prices for upgrades when you are already worried they may be badly done and not fixed?0
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I suspect that upgrades means things like better kitchen units, instead of standard ones. So it's not really feasible to get another company to do it.
Paying by credit card would make the credit card company jointly liable for breach of contract or misrepresentation. If there's no difference in cost between paying by credit card and paying by other means, I guess you might as well pay by card.
As others say, it might be best to pay off the card balance immediately.0
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