Buy now pay later credit

Treadh2o

New user on forum looking for advice.

I need to make a large purchase of 4-6k

I am about to change mortgage deals and can’t have such a large withdrawal on my account or signup to a direct debit. This will limit my lending options for a new mortgage.

I am freelance and don’t get a regular income.
My account needs to look squeaky clean.

So I would like a credit card or loan preferably 0% with deferred minimum payment for 6 months at least or a product like this. That’s does not show up
On my statement until after I secure my new mortgage product.

Is there such a thing in the UK ?

Thanks

jenniewb

You want credit without it showing up anywhere? Does that exist? No. If it existed via a well established financial provider you'd be looking at something worrying.


I'd also suggest looking and what you are able to get credit for as well as how much- self employed can be difficult to get credit from and it may limit both what you are offered and how much.

[Deleted User]

0% credit cards are available but here's no such thing as not showing on your credit file. It will show from the minute you apply as a search then as an account if you're accepted.

Treadh2o

Jenniewb

I’m very sure that’s not what I’m asking.

Clearly I am asking for a deferred payment for 6 months or so that it does not appear as a direct debit on bank statement until I secure the mortgage.

i have 3 credit cards with 10k credit all with nothing to pay so getting credit is not the issue.

What I have experienced before the bank will not offer me best rate or maybe no mortgage at all if they see additional direct debits.
I am wanting to create the best possible look to
My account. After all it’s just a box ticking exercise and everyone has a unique circumstance to their finances when it comes down to it.

I am able to pay the monthly payments on a credit card. I just don’t want to be penalised by a lender .

I will just wait until after I get the mortgage deal and then get the credit card. In the end I still
Get what I want but just have to wait longer...

What a lot of nonsense you speak of ! Not showing up anywhere.. really ?!
It’s perfectly valid question as some products out there offer a buy now pay later on items like a sofa for example..
I was simply asking if same exists for credit card. PayPal do it but not for long enough..

[Deleted User]

Treadh2o wrote: »

Jenniewb

I’m very sure that’s not what I’m asking.

Clearly I am asking for a deferred payment for 6 months or so that it does not appear as a direct debit on bank statement until I secure the mortgage.

i have 3 credit cards with 10k credit all with nothing to pay so getting credit is not the issue.

What I have experienced before the bank will not offer me best rate or maybe no mortgage at all if they see additional direct debits.
I am wanting to create the best possible look to
My account. After all it’s just a box ticking exercise and everyone has a unique circumstance to their finances when it comes down to it.

I am able to pay the monthly payments on a credit card. I just don’t want to be penalised by a lender .

I will just wait until after I get the mortgage deal and then get the credit card. In the end I still
Get what I want but just have to wait longer...

What a lot of nonsense you speak of ! Not showing up anywhere.. really ?!
It’s perfectly valid question as some products out there offer a buy now pay later on items like a sofa for example..
I was simply asking if same exists for credit card. PayPal do it but not for long enough..

Such buy now pay later accounts for sofas etc will still show on your credit file. They just won't show any payments made/due/missed. They'll just show the total amount owed and to who

shortcrust

Treadh2o wrote: »

Jenniewb

I’m very sure that’s not what I’m asking.

Clearly I am asking for a deferred payment for 6 months or so that it does not appear as a direct debit on bank statement until I secure the mortgage.

i have 3 credit cards with 10k credit all with nothing to pay so getting credit is not the issue.

What I have experienced before the bank will not offer me best rate or maybe no mortgage at all if they see additional direct debits.
I am wanting to create the best possible look to
My account. After all it’s just a box ticking exercise and everyone has a unique circumstance to their finances when it comes down to it.

I am able to pay the monthly payments on a credit card. I just don’t want to be penalised by a lender .

I will just wait until after I get the mortgage deal and then get the credit card. In the end I still
Get what I want but just have to wait longer...

What a lot of nonsense you speak of ! Not showing up anywhere.. really ?!
It’s perfectly valid question as some products out there offer a buy now pay later on items like a sofa for example..
I was simply asking if same exists for credit card. PayPal do it but not for long enough..

Jenniewb answered your question in her first paragraph. Nice way to thank her for the time she took to reply eh?

Buy now pay later purchases such as sofas, catalogues etc DO show on your credit report.

Treadh2o

Jennieweb did answer, correct.

But I was asking about it appearing on my bank, current account. Not a credit statement/history.

“You want credit without it showing up anywhere ? does that exist ? No If it existed via a well established provider you’d be looking at something worrying”

The answer comes across with arrogance. As if I was trying to do something underhand. I have every intention of paying the credit and of course ! It is recorded so it can be paid back..

_shel was able to answer the same question in a helpful manner.

Dobbibill

It is possible to walk into a branch and make a payment over the counter for a credit card - while it will still be on your credit file it then won't be a DD not sure if that would work for you/your situation.

Minimum payment still applies though so it's not deferred. Mortgage providers are known to run a search on your credit file right up to the 11th hour on a mortgage application so when it shows up on there they may still reduce the amount of borrowing on affordability if applicable with/without a DD mandate.

dresdendave

I can understand what the OP is trying to achieve but any borrowing, regardless of whether or not it is connected to their current account will be visible to a mortgage provider and will impact on any lending decision.

The only way around it would be borrowing unofficially from a friend or relative. However this would be a tremendous risk to whoever lends you the money and these arrangements often don't end well.

Although this loan would be under the radar it could be considered fraud if you didn't declare it, so if it came to light at a later date you could be in trouble.


Could you just not put off your purchase until the mortgage deal is sorted?

onlyfoolsandparking

dresdendave wrote: »

I can understand what the OP is trying to achieve but any borrowing, regardless of whether or not it is connected to their current account will be visible to a mortgage provider and will impact on any lending decision.

The only way around it would be borrowing unofficially from a friend or relative. However this would be a tremendous risk to whoever lends you the money and these arrangements often don't end well.

Although this loan would be under the radar it could be considered fraud if you didn't declare it, so if it came to light at a later date you could be in trouble.


Could you just not put off your purchase until the mortgage deal is sorted?

And that's the bit the OP is not getting!!!

[Deleted User]

A hard search will show on your credit files which a mortgage lender/broker will see.

Plus they’ll see the credit card on there along with the balance and the fact that it’s on a promo for xx months.

You can’t hide it from anyone.

They will check your credit files not just your current account statements.