Halifax mortgage - due for completion next week, worried about hard credit search!

jd0963 · 13 September 2021 at 4:46PM

Hi, in a bit of a panic so hopefully someone can advise on this.

Myself and my partner are due to complete next Friday (24th) on our house.

One of the conditions of our mortgage was that we had home insurance so I left this to my partner however he stupidly selected a credit option for this insurance (it’s £110 for the year). This has now shown up on his credit file and we’ve only noticed this today.

My question is- will this affect our mortgage funds being released? I’ve read all sorts of horror stories about people’s mortgages being withdrawn at the last stage due to new credit being taken after the mortgage was accepted.

Surely Halifax would see it is such a small amount and not really care about it? Or would it be something that could completely mess our mortgage up?

Hoping I’m just overthinking it! I’d hate to lose our dream home because of a tick box that was wrongly selected! 😭

london21 · 13 September 2021 at 5:51PM

Such a small amount doubt will have any impact.

jd0963 · 13 September 2021 at 6:14PM

I hope not, just fearful it’ll be a “computer says no” type of thing

Windofchange · 13 September 2021 at 6:16PM

Unless you are sailing incredibly close to the affordability boundary then no problem. Not perhaps the wisest thing to have done as you allude to, but can’t see it making any difference. Bit like posters in the past who have taken out new phone contracts just before exchange. Such a small amount that it won’t bat an eyelid.

jd0963 · 13 September 2021 at 6:23PM

Yeah we can more than afford the mortgage, I just realised how wreck less it looks having new credit on my report days before competition.

Like you said, hopefully it won’t be a big deal. I’m sat here surrounded by boxes ready to move so the idea of it falling through because of something so small made me an anxious wreck all today!