Worried about mortgage being withdrawn between exchange and completion

brotherbarry

I exchanged on a property back on 28th June, with completion next week on 19th July.

Foolishly I applied for a credit card a few days ago, and now I'm worrying that the lender could withdraw the offer... My credit profile is above average on noddle and I've always paid my credit cards off in full every month.

Are there any steps I can do to reassure myself incase credit checks are carried out again;

• Cancel the card?
• Pay off all credit card balances before the statement has been generated for the end of the month?
• Check with the broker?
• Check with the lender?

letitbe90

I'll be honest, it is very very unlikely your mortgage offer will be withdrawn.

brotherbarry

Thanks... I hope so... I've heard of these occassional horror stories and had me worried!

One other thing I forgot to mention was I am borrowing ~37k below the max amount they were willing to lend me, which should work in my favour...

JoJo1978

I think you'll be fine, but if you're worried just don't use your new card. Good luck with the move!

avacapri

you should be fine, word of warning when I bought my first house a used a credit card unwisely - new fridge, cooker and sofa later and bang 3 years of credit card debt that I could not afford.
I wish we had ebay back then!

datlex

I think every FTB worries about the mortgage offer being withdrawn. I know until I completed I was worried. Trouble is a search of google brings up worrying results. Looking back it would take more than a credit card application to have stopped the mortgage. When I applied for the mortgage, they were more interested in the amount I spent and my payment commitments rather than card credit limits.

worried_jim

brotherbarry wrote: »

Thanks... I hope so... I've heard of these occassional horror stories and had me worried!

One other thing I forgot to mention was I am borrowing ~37k below the max amount they were willing to lend me, which should work in my favour...

Good luck with the new house! Greatest feeling getting the keys and opening your front door for the first time!

cloo

I think you're just anxious and your brain is looking for things to worry about (I know mine does!), you have exchanged now it'll all go through just fine.

quantumlobster

If you're really worried, OP, talk to your mortgage lender.

Thistle86

As long as you don't make any amendments to your mortgage (loan amendment/purchase price etc) your credit file won't be rechecked and this won't be picked up

kamalious

FTB buyer here too. I think you should be fine - but I can appreciate that Googling does bring out a sense of fear! Talk to your broker or someone similar to see what they think.