Is new mortgage at risk due to 0% application CC?

ani*fan

Hi you helpful people. I have a question and wondered if anyone had any thoughts about it.

Me and OH are in the process of taking on a mortgage. We will be exchanging in roughly 4 weeks. Part of my amazement about this is that I must have a decent credit record. This is very good.

The new place needs windows to make it liveable. Some companies have 0% finance, some do not. We don't have savings now we've put them all into buying the house so we'll need to borrow. I want to use a 0% purchases CC so we can go with the best deal and not be swayed by the finanace package. This makes sense to me.

Does anyone know if a new credit card application at this stage, 4 weeks before we move in, will have any impact on what happens with the mortgage? We have had the formal agreement, they are definitely giving us the mortgage for the property we want, but I'm aware I may be refused the CC for no good reason I can see and that never looks good on your credit file. I understand that our application will have already been to the underwriter for approval. I just don't want to do anything daft to mess it up that could easily have been avoided.

Thanks in advance for any help you can offer.

(p.s. I know using a CC to buy windows is less than ideal, but we have a good income and I'm strict with the budget, so it will all get paid off.)

sultanabran

To put it simply, wait until after completion to apply for a new credit card. I imagine the windows in the house are at least weather proof and will last you a few weeks/months. Better to be safe than sorry.

ani*fan

Thanks for that sultanabran. I also thought I should do that, except my chances of getting a card when I won't be registered at my new address and have only lived there for 2 minutes are slim to none.

Hmm.

Jenkic20

Do nothing until you have completed. If they feel that way out it coud void your application if they check again before completion as it would impact your affordability.

csgohan4

applying for a credit card at a new address is not an issue as long as you pass the credit check, they will normally ask you to list the previous addresses for the past x years.

ani*fan

Thanks everyone. I totally agree and will take your advice. The stress of taking the risk and then worrying about what might happen would tip me over the edge. This is all stressy enough at the minute.

I'll wait til we're in.

Thrugelmir

ani*fan wrote: »

The new place needs windows to make it liveable.

Summer is approaching. No need to rush.

ani*fan

Thrugelmir wrote: »

Summer is approaching. No need to rush.

Absolutely.