Credit check anytime up until completion??

Jamgeorge

Hi I’m about to exchange contracts with persimmon. I have a formal mortgage offer with Nationwide. I was going to look at sofas on 0% interest free credit but I don’t think I am going to do this now as I didn’t realise Nationwide would credit check us again anytime up until completion. We don’t complete until December as it’s a new build. Anyone had this done to them? Thanks

[Deleted User]

Don't apply for any further credit until you have completed.

It's a low risk but not one worth taking

Jamgeorge

I def won!!!8217;t like you said it is not worth it. Can I ask though- I have a credit card that I have a few hundred on it was declared during full app etc so no secrets. I!!!8217;ve been dipping in and out of my card but not done nothing out the usual. I!!!8217;m talking extra £45 or £20 here and there. I am worried now in case that affects things!!! I!!!8217;m exchanging next week

jaelato1

As long as you are not making huge spend on it I wont be worried but as best practise though, I'll probably hold off on spending any credit until completion

[Deleted User]

If you're clearing in full and not running up debt, it's fine.

Jamgeorge

No I!!!8217;m not clearing it in full but it had hundreds on at the time my formal mortgage offer came through. I am
not going to be using it anymore. Thanks

sheepy21

We just got our mortgage with Nationwide, they credit checked us for our DIP and that was it, we didn't take out any other credit however until we completed.

Jamgeorge

Thanks for the reply. Yeah we got checked at our dip stage too 100% and I think the full application but not 100%
Thanks

AnotherJoe

Jamgeorge wrote: »

Hi I!!!8217;m about to exchange contracts with persimmon. I have a formal mortgage offer with Nationwide. I was going to look at sofas on 0% interest free credit but I don!!!8217;t think I am going to do this now as I didn!!!8217;t realise Nationwide would credit check us again anytime up until completion. We don!!!8217;t complete until December as it!!!8217;s a new build. Anyone had this done to them? Thanks

There are always sofas on interest free credit, and completion aimed for December could easily delay until the new year (when there will no doubt be a shed load of "sales" as well) , so I'd hold back anyway.

Plus of course as everyone points out, its not a risk worth taking ,especially so when you'd be buying something 6 months ahead of when you need it and most likely paying top whack as well compared to waiting until you are in the house. Even if you do move in in December, live on bean bags for a month or two and save in the post xmas sales.

Jamgeorge

Yep that!!!8217;s what we just said we are not going to get any new credit. I!!!8217;m worried now though that I!!!8217;ve spent about £100 on my existing credit card

AnotherJoe

Jamgeorge wrote: »

Yep that's what we just said we are not going to get any new credit. I'm worried now though that I've spent about £100 on my existing credit card

they dont expect you to live on baked beans for the next six months !