Getting a new credit card after mortgage offer

mrweeble

I'm buying a house and in order to get the best mortgage I've been very cautious about my credit usage. I now have my offer and the exchange and completion dates are pencilled in. Because there's going to be a fair bit of spending coming up (decorating, new furniture and white goods, some building works etc) I thought it would be a good idea to get a 0% spending card to spread the cost. My credit club dashboard has be at a 90% chance of getting one, but I am worried if getting a credit card would affect my existing mortgage offer? Am I being paranoid or does already having the mortgage offer mean it's ok?

[Deleted User]

Don't apply for any further credit until you've completed and are in your new home, trying to figure out how the boiler works.

MaryNB

It's not uncommon for a lender to do another check before releasing the funds. And it's not unheard of that they pull the offer due to a change in financial circumstances...
https://forums.moneysavingexpert.com/discussion/5930981/help-mortgage-offer-withdrawn-after-exchange/

mrweeble

Thank you both. I'll keep my powder dry until completion and hope I can still get the 0% then. But I'd rather have the mortgage and have to pay interest on a card for a couple of months than losing the house

MaryNB

Bear in mind it can sometimes be tricky to take out credit so soon after opening such a significant credit account so you might not get it right away. My friend remortgaged and reduced his monthly mortgage payments. He went to take out a personal loan a few weeks later and the loan repayments, along with his new mortgage payments would have the same as his previous mortgage repayments so he was well able to afford it. His bank turned him down because they wouldn't grant a loan so soon after he remortgaged. 

cdp2879

I'd be very interested in knowing whether you're successful after you've closed.  We're in the same position.  We're moving from a furnished rental into our own place.  I don't mind waiting for most things, but white goods and beds (or at least mattresses) we would need right away.  I was hoping to get a 0% card to get the basics, especially as we'd be due our sizeable security deposit back to help pay it off.