Buying goods from CC after mortgage offer

mowgliisaG

Hi Brokers, want some advice, I now have a mortgage offer (yay), looking to buy things to kit the house out. I get air miles on my Amex and was hoping to buy things off my Amex but then instantly pay it off to then buy something other things and so forth, in essence all money in savings to buy stuff but if I buy via Amex I pick up the air miles...would you recommend or stay clear???

davidmcn

As far as I know, activity on your cards isn't going to be visible to anybody else. New card applications (and I think increased credit limits) are the sort of thing which might crop up on your credit files.

mowgliisaG

I thought on a hard search you can see outstanding balances...though I’d be paying it off straight away would it show??

dimbo61

With the current situation in the mortgage market why on earth would you take the risk.
People on furlough with good well paid jobs are getting turned down for a mortgage.
Do not put your mortgage application at risk.
Don't spend a penny till you have the keys in your hand.
Amazon, IKEA, eBay AO , Next etc can do next day delivery.

mowgliisaG

dimbo61 said:

With the current situation in the mortgage market why on earth would you take the risk.
People on furlough with good well paid jobs are getting turned down for a mortgage.
Do not put your mortgage application at risk.
Don't spend a penny till you have the keys in your hand.
Amazon, IKEA, eBay AO , Next etc can do next day delivery.

Fair point...I mean we could buy it debit as opposed to credit...just the sofas we’ve seen have a 70 day delivery time...and some awesome savings to be had during the Black Friday (that’s actually now a week long) 

MovingForwards

mowgliisaG said:

dimbo61 said:

With the current situation in the mortgage market why on earth would you take the risk.
People on furlough with good well paid jobs are getting turned down for a mortgage.
Do not put your mortgage application at risk.
Don't spend a penny till you have the keys in your hand.
Amazon, IKEA, eBay AO , Next etc can do next day delivery.

Fair point...I mean we could buy it debit as opposed to credit...just the sofas we’ve seen have a 70 day delivery time...and some awesome savings to be had during the Black Friday (that’s actually now a week long) 

If this property falls through, do you have somewhere to store the furniture? Is it a normal size which will fit in any property or specific for the one you are buying?

Just for you to think about, with the other opinions.

CSL0183

Phone up your lender and ask. I wouldn’t be risking your mortgage approval before you have finalised. A mortgage offer can and does get retracted should they spot something amiss. 

K_S

mowgliisaG said:

Hi Brokers, want some advice, I now have a mortgage offer (yay), looking to buy things to kit the house out. I get air miles on my Amex and was hoping to buy things off my Amex but then instantly pay it off to then buy something other things and so forth, in essence all money in savings to buy stuff but if I buy via Amex I pick up the air miles...would you recommend or stay clear???

If you are buying it using a cc and then paying it off in full (either immediately or upon statement), it isn't a problem at all. This isn't going to result in your mortgage offer being revoked.

mowgliisaG

K_S said:

mowgliisaG said:

Hi Brokers, want some advice, I now have a mortgage offer (yay), looking to buy things to kit the house out. I get air miles on my Amex and was hoping to buy things off my Amex but then instantly pay it off to then buy something other things and so forth, in essence all money in savings to buy stuff but if I buy via Amex I pick up the air miles...would you recommend or stay clear???

If you are buying it using a cc and then paying it off in full (either immediately or upon statement), it isn't a problem at all. This isn't going to result in your mortgage offer being revoked.

Yes it would be immediately, only popping onto CC for airline mileage benefits...

also you ever had anyone through santander? You wouldnt know what the mortgage processing centre is post UW agreeement? 

K_S

mowgliisaG said:

K_S said:

mowgliisaG said:

Hi Brokers, want some advice, I now have a mortgage offer (yay), looking to buy things to kit the house out. I get air miles on my Amex and was hoping to buy things off my Amex but then instantly pay it off to then buy something other things and so forth, in essence all money in savings to buy stuff but if I buy via Amex I pick up the air miles...would you recommend or stay clear???

If you are buying it using a cc and then paying it off in full (either immediately or upon statement), it isn't a problem at all. This isn't going to result in your mortgage offer being revoked.

Yes it would be immediately, only popping onto CC for airline mileage benefits...
also you ever had anyone through santander? You wouldnt know what the mortgage processing centre is post UW agreeement? 

Sorry I didn't understand the question? If you are asking what kind of checks are done by lenders post-offer and pre-completion, it can be nothing (usually in cases where completion happens not too long after the offer is made), an additional credit check prior to releasing funds (usually when there has been a long gap between offer and completion), even a final income check (latest payslip, bank statement, etc), etc.

Understandably, there are no hard and fast rules as to what kind of post offer checks are made. But, none of the above would cover your scenario so honestly you have nothing to worry about.

mowgliisaG

@K_S apologies, I meant - my mortgage has been agreed by the UW at santander and now passed onto the mortgage processing centre (where there is a 4 day delay) for the offer. Have you heard of this with santander?