New credit card before completion

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mjane93
mjane93 Posts: 55 Forumite
First Post Name Dropper
in Mortgages & endowments
Hi all,

I am absolutely freaking out so we are days away from exchange and my other half has just taken out a credit card (2k limit). We had no idea this could stop us from getting our mortgage. Before this we’ve never had any credit, finance or been in any kind of debt. In terms of affordability we were able to take our a max of 180k but our mortgage is for 144k. 

Have we put ourselves in a horrible situation? We haven’t used the card yet. As if buying a house isnt stressful enough without making this silly mistake…

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  • FirstTimePlx
    FirstTimePlx Posts: 56 Forumite
    First Post Name Dropper
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    I don't think anyone can be sure at this stage, or tell you 100%. But the best thing you can do now; is not spend on it at all. Just leave it open. Any offers on there are usually up to 60 days anyway.

    Wait until completion.
    First Time Buyer

    ## April 2021 - DIP/AIP
    15 July 2021 - House - Offer Accepted
    16 July 2021 - Completed Mortgage Application/ Hard Check/ Income Verified [Straight 2 Lender, Without Broker]
    16 July 2021 - Paid for Home Buyers Survey (Level 2); (Waiting for a date on the Survey)
    21 July 2021 - Home Buyers Survey (Level 2); Booked
    21 July 2021 - Home Buyers Survey (Level 2); Completed
    21 July 2021 - Official Offer of Mortgage Completed by Lender [Mortgage Tracker]
    21 July 2021 - Awaiting Conveyancing Next Steps !
    28 September 2021 - Exchanged Contracts !
    29 September 2021 - Planned Completion. My new home !
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