First Time Buyer
AIP 18/02/2020 - Full Application 25/02/2020 - Valuation - 16/03/2020
17/03/2020 - Mortgage Offer Issued
23/03/2020 - LOCKDOWN
19/06/2020 - Exchange of Contracts
07/08/2020 - Officially Homeowners
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spending before house completion
putopao
Posts: 95 Forumite
Hi,
Might be a silly question but I am desperate for answer. Can I shop around and spend my disposable income about 3 weeks before completion? i am not going to take a credit on it tho'. Will the bank not see this as spending in unnecessary stuff? Thanks
Might be a silly question but I am desperate for answer. Can I shop around and spend my disposable income about 3 weeks before completion? i am not going to take a credit on it tho'. Will the bank not see this as spending in unnecessary stuff? Thanks
0
Comments
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Hi putopao
If you’ve already got the mortgage offer they are unlikely to do anymore checks so I wouldn’t worry. Besides, if it’s disposable income they can’t tell you what to spend it on.Congrats on the new house!1 -
Agreed, I wouldn't go and take out any credit but wouldn't be worried about spending cash in my current account.1
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It's your cash.I am a Mortgage Broker
You should note that this site doesn't check my status as a Mortgage Broker, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.1 -
We have been spending some of our disposable cash for our new home.
We've transferred all the funds we need to to our solicitor, have plenty of money left over, so why not?
As long as it's not on credit or finance there shouldn't be an issue.
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Course you can!1
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It’s your money to spend. Congratulations on your new home. Don’t forget to keep money for emergencies as that tends to happen more than expected once you move in.Initial mortgage bal £487.5k, current £258k, target £243,750(halfway!)
Mortgage start date first week of July 2019,
Mortgage term 23yrs(end of June 2042🙇🏽♀️),Target is to pay it off in 10years(by 2030🥳).MFW#10 (2022/23 mfw#34)(2021 mfw#47)(2020 mfw#136)
£12K in 2021 #54 (in 2020 #148)
MFiT-T6#27
To save £100K in 48months start 01/07/2020 Achieved 30/05/2023 👯♀️
Am a single mom of 4.Do not wait to buy a property, Buy a property and wait. 🤓0
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