additional credit when waiting to complete

[Deleted User]

In fairness, your advisor was probably correct about the phone contract, as it's effectively a utility.

Stacking up on credit-based seating is a little less wise.

Hopefully it will work out ok, but definitely stop buying any more furniture on credit.

EmKnox

Deleted_User wrote: »

In fairness, your advisor was probably correct about the phone contract, as it's effectively a utility.

Stacking up on credit-based seating is a little less wise.

Hopefully it will work out ok, but definitely stop buying any more furniture on credit.

I agree now it was very unwise. The stupidest part is we do have some savings for furniture but as the sofa was the most expensive we thought it would take some of the stress off buying the rest. If we had known about the possibility of further credit checks we definitely wouldn't have bothered, and definitely won't be buying anything else until I have the keys in my hand.


I will update if it all works out, or not, lol :doh:

Hutchy96

What is the consensus therefore on taking out a SIM only contract prior to completion? Just as bad as a credit card?

Saban

I'd love to know also, what's the opinion on regular credit items such as mobile phone contacts and car insurance payments? Both of these are due for renewal for me before likely completion. Would these cause a problem?

Let_Us_See

Depends on lender. Some take into account all existing commitments, whilst others use living costs based on ONS data which are inclusive.

EmKnox

EmKnox wrote: »

I agree now it was very unwise. The stupidest part is we do have some savings for furniture but as the sofa was the most expensive we thought it would take some of the stress off buying the rest. If we had known about the possibility of further credit checks we definitely wouldn't have bothered, and definitely won't be buying anything else until I have the keys in my hand.


I will update if it all works out, or not, lol :doh:

Hi all,


Just an update,


We exchanged on Friday and are due to complete this coming Friday the 16th, the sofa finance appeared on my credit report at the weekend and I have since been in touch with my mortgage advisor at Halifax who has informed me that there won't be any further credit checks anyway.


So all good!