phone contract whilst buying house - really panicking

TXC

hi all

hope you can help as I'm panicking a bit. I lost my phone @ the weekend so am having to get a new phone contract. This will leave a stamp on my credit file apparently and will show as a loan. my mortgage has been passed and full offer issued and the amount is neglible and more than affordable but I'm panicking that they will rescind the mortgage if i take any form of further credit out before drawdown??

really panicking

glennevis

If it's really critical could you get a cheap phone and a PAYG SIM for a few weeks? No credit checks with PAYG SIMs.

TXC

I've decided not to go ahead with it, the credit check had already been done and passed but I don't want anything to jeapordise so I said I didn't want to go any further

[Deleted User]

The credit check has already been run, it depends how many loans you have already etc.

TXC

but nothing should have changed from when I got the full offer if I didn't take the loan? this is just incase another check is run pre completion so they'll see vodafone on the check but no further credit

[Deleted User]

They won't see Vodafone on the check.  Just the search.

TXC

Deleted_User said:

They won't see Vodafone on the check.  Just the search.

understood - but they'll also see I didn't take on any extra debt? If its flagged between now and completion could I just say "realised it would be inappropriate" etc? Surely the fact I haven't actually taken the loan should be in my favour?

Snookie12cat

TXC said:

Deleted_User said:

They won't see Vodafone on the check.  Just the search.

understood - but they'll also see I didn't take on any extra debt? If its flagged between now and completion could I just say "realised it would be inappropriate" etc? Surely the fact I haven't actually taken the loan should be in my favour?

Unless your score for the credit search was on the wire, I don't think one more hard check will hurt it. If your credit is good you should be fine 

Windofchange

I think you are stressing unnecessarily. I took out a sky subscription prior to mortgage drawdown and nobody batted an eyelid - was an expensive sky subscription too! If £15 a month or whatever your phone contract is is going to sink your affordability for a mortgage then I'd be incredibly surprised / asking if you can afford the mortgage anyway. You say you are comfortably able to afford it, therefore I would just chill out and get on with life. A hard credit search for a phone contract isn't going to have an impact on you. If you were buying a car or a 20 grand three piece suite then maybe.

TXC

Thanks everyone just to be on the safe side i'll make do with a phone I found in a drawer until i complete in hopefully about 5wks time stressful time this!

deannagone

I decided to not upgrade my phone this year, first time ever lol, because I didn't want to commit to yet another high bill with everything else going up and new phones (bit of a gadget fiend) are all very expensive, unreasonably so in my opinion lol.  In your case, just get a replacement sim card for the old phone you have and continue the contract.