Can i use an existing credit card between exchange and completion

Moneymouse

Hi all


I have just exchanged on my first property and have three weeks between now and the completion date when I will be moving in. During that time frame I need to pay for things like a professional clean for my rented flat/van hire/a bed. Not planning on spending a lot (somewhere around £1,500 to £2,000 for everything) and my credit limit available is about £8,000.


If I do this on an existing credit card will it be an issue?


Will the lender reassess my credit in between exchange and completion? I've read mixed things!


Any help much appreciated during this stressful but exciting time!

sultanabran

They may do another search of your credit file. I see this mentioned but not sure how common it is.

However, lenders don't update your outstanding balances with them immediately, and only do so on a monthly basis. So check what do of the month your credit card provider updates your files. That will give you an idea of when the increase in your balance with them will show up.