New credit after mortgage offer

ArchtiectBOX

Hi all,

I've recently applied for and been issued a new charge card from AMEX, after receiving a mortgage offer from Natwest.

The card was applied for December 18th and we will be completing on the house late January?

I now have 3 credit cards with the total spent across all 3 being £610.

Should i be worried about natwest withdrawing offer?

CommitedToChange

It's a possibility. They may do another credit check - have you exchanged yet?

Why did you apply for another credit card during this time, surely two should be enough? A quick search here should have revealed that everyone says not to apply for more credit while applying for a mortgage.

ArchtiectBOX

thanks for your reply. We exchanged in November.

I will be cancelling on of the credit cards in the next couple of weeks.

enthusiasticsaver

I doubt Nat west will withdraw offer given low usage but I agree it would have been better for you not to apply for additional credit just at this point.

ArchtiectBOX

thank you for taking the time to reply, that's reassuring.

My credit card balance has gone down since mortgage offer, just the number of them has gone up!

I agree should have waited until after completion, hindsight is 20/20

enthusiasticsaver

I would close at least one of the cards. Is there any reason why you applied for the Amex in particular? Moving house seems to be a common reason for people to overspend on credit cards buying new furniture etc etc. I would remove the temptation.

ArchtiectBOX

its a charge card so there is no choice but to pay it off at the end of the month, i use this for fuel, as my job role has changed and i am travelling alot more, the amount will be cleared from expenses.

i will be cancelling my vanquis one after the £200 on it is cleared, after completion.

kingstreet

The issue is unnecessary searches and alterations.

Now you've had a search and added another account, make no further changes and hope no further checks are run by the lender prior to completion.

Anyone else reading this, make no applications for new credit between agreement in principle and completion of the mortgage/purchase.

ArchtiectBOX

quick update if anyones interested, the mortgage went through fine!