Final credit check before completion!?

mwx

Hi all,

So I am a FTB buying a new build. I went through the mortgage advisor they suggested (it was free for FTB) and they have found me a mortgage which was accepted and valuation was completed fine. I am due to exchange soon.

But!!! I am worried that I have messed it up, I took out a £1000 sofa loan (I know I know... mortgage 101 don't take out any additional finance) at £50 a month but i don't start paying this until Jan. It had a 12 week lead time so I wanted to order it but I didn't really think about this until after I had done it.

I panicked and contacted my mortgage advisor and she said that its fine.

Also, on my mortgage document it states that i have over £1000 'disposable income' and when I gave my mortgage advisor my budget sheet I had £600ish left over for savings etc.

But I am still worried! Do I trust my mortgage advisor?? It would be heart crushing if this falls through.

Has anyone here ever been in a similar situation and did your mortgage still go through ok?

scholesfan88

You have seen the advice about taking out further credit before completion and you went ahead anyway?

Some lenders will do a final credit check and I'm sure in some instances offers have been withdrawn due to additional borrowing.

Will it happen to you? Chances are probably slim, but time will tell.

[Deleted User]

Nice to see that your broker has suggested just commuting mortgage fraud as the solution. Lovely behaviour.
If you say you are going to pay it off but have no intention of doing so then you are committing fraud. No other way of saying it

In reality, they probably won't care unless you were borrowing up to your last penny