Big purchase before mortgage application

Pocket9s

Hi,

Hope someone can give me some guidance. Currently in process of selling house. Moving into rented while waiting to find something we want to buy. Probably buy in 6 months give or take but will need to sort a new mortgage as soon as we find somewhere.

problem is my iPad is packing in and need a new one. Been putting off buying any big ticket items for a few months to keep our statement clean for potential mortgage applications. If I were to buy one and then need to apply for a mortgage quite soon after would this potentially reduce our mortgage offer ie would the lender treat it as a monthly rather than 2/3 yearly expense?

For clarity we run a decent monthly surplus and currently have around 10k in cash sat in current accounts for moving costs so not using credit/overdraft etc to buy the iPad

[Deleted User]

If you have the cash, go ahead.

No lender expects you to buy iPads monthly.

Soot2006

Shouldn't be a problem. Our mortgage broker combed through our bank statements and worked out essential vs non essential spending. I assume that's standard. iPad is non essential. No one is forcing you to buy it and you're not committed to buying it, so if you can afford it just buy it


I know how you feel though. I'm querying every small purchase at the moment for the same reason, even though I know it's silly!

dimbo61

You can still be MSE even buying an iPad !
Shop round and find the best deal.
Do you really need an iPad or would a cheaper tablet do ?
What do you use it for.
Laptop ( iMac) for work and university work I can understand !
Home computer with printer and scanner Yes

Pocket9s

Thanks all - thought I was being paranoid, but don’t want to delay mortgage if we do find a house we want!

ScottishSaver14

No lender will look on you buying an iPad with scorn if you can afford it!

If you bought it on high interest finance and then defaulted on it that would be another story, but you are allowed to spend your money. Especially as you seem to be frugal and restrained enough to be questioning it so throughly )

foxy-stoat

I paid £100 for my secondhand ipad a 4 years ago - I reckon I could buy the same ipad now for £60 and still have good use out of it.

Not sure how spending less than a tank of diesel is going to affect a mortgage application.....oh wait, do you mean you NEED the latest newest ipad because your 1 year old one is a bit slow?