Credit check AFTER mortgage completion?

jnewton1234

Hi

I have question about whether any lenders (Specifically barclays) can/do credit check AFTER completion to confirm balances have been cleared?

I received my mortgage offer which was contingent on clearing certain credit card balances "within 30 days of completion".

That implies that you can be credit checked after because you could pay it off say 15 days after completion and how/do they check that?

Of course I will clear them down BEFORE completion, as credit checks can occur till the day of completion, but from a legal perspective once the funds are released by the lender and completion occurs they cant withdraw the mortgage?

I ask because once the mortgage goes through (i.e. after completion) I plan to open a new credit card for Stoozing/Furniture purchases.

Thanks all!

Westminster

I had the same clause in my previous mortgage - no searches were done after completion.

jnewton1234

Did you by any chance take out further borrowings after completion?

Westminster

No - but then Barclays wouldn't have known that without doing a search.

However, we didn't clear the cards we had as specified as they were all on 0% promo.

jnewton1234

Thanks - just out of interest though from a legal standpoint do you think that once completion occurs they cant withdraw the mortgage if you pay on time etc?

Westminster

I doubt it (unless perhaps there is some form of mortgage fraud which somehow becomes apparent after completion) - but that opinion is not based on any firm or professional legal knowledge.

jnewton1234

thanks Westminster. Can I ask are you a stoozer too?