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New credit during mortgage application

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hughes1497
hughes1497 Posts: 31 Forumite
10 Posts
in Mortgages & endowments
Hi all. Wondering if someone can help me out here. 

Mortgage offer recieved on 17th August. Missives to be signed this Thursday (3rd September) with entry date/completion for 14th September. 

There are some things we need to get for the house through Argos/very credit accounts such as furnishings, etc. One of the conditions of my mortgage was paying off a loan and one of my credit cards (which I did). 

Will adding more credit onto buy now pay later account impact the mortgage now at this point? We’ve already had a hard search hence the mortgage offer but don’t want to jinx anything. 

Comments

  • mathdotrandom
    mathdotrandom Posts: 33 Forumite
    10 Posts Name Dropper
    They sometimes do last minute searches, i wouldn't risk it. Plus, the house sale can still fall through (even if unlikely) and then you'd be stuck with furniture to suit a house you're no longer buying.
    Initial property found & offer accepted: 24/09/2020
    Full application: 25/09/2020
    ...everything feel through due to a missing EWS1 form in late October...
    New property found and offer accepted: 9/11/2020
    Change of property request: 10/11/2020
    Mortgage offer received: 15/11/2020 
    Searches back: 06/12/2020
    Exchange: 26/02/2021
    Completion: 04/02/2021 - wohooo!
  • MovingForwards
    MovingForwards Posts: 17,149 Forumite
    10,000 Posts Seventh Anniversary Name Dropper Photogenic
    There are things you want for the house which can wait until you have the keys in your hand.

    If one of the conditions was clearing some debt, why do you think it would be acceptable to the lender for you to increase your debt again? This is enough to know you would be at risk of having the mortgage offer withdrawn and you scrambling around to find another lender after missives have concluded.

    Bunk on the floor for a few days, but for goodness sake do not order anything unless you have the cash to pay at the time of ordering.
    Mortgage started 2020, aiming to clear 31/12/2029.
  • csgohan4
    csgohan4 Posts: 10,600 Forumite
    Ninth Anniversary 10,000 Posts Name Dropper Photogenic
    yes it will impact, wait until completion, is that furniture going to be worth it if you have no house to put it in?
    "It is prudent when shopping for something important, not to limit yourself to Pound land/Estate Agents"

    G_M/ Bowlhead99 RIP
  • hughes1497
    hughes1497 Posts: 31 Forumite
    10 Posts
    Thank you everyone. I had thought the same myself but just wanted to get other peoples thoughts on this! 
  • csgohan4
    csgohan4 Posts: 10,600 Forumite
    Ninth Anniversary 10,000 Posts Name Dropper Photogenic
    Here's someone who bought big and lost it all

    https://forums.moneysavingexpert.com/discussion/5930981/help-mortgage-offer-withdrawn-after-exchange/p1
    "It is prudent when shopping for something important, not to limit yourself to Pound land/Estate Agents"

    G_M/ Bowlhead99 RIP
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