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Sofa credit after completion?

Hi all

I’m looking to complete on my house in the next 8 weeks. I’m desperate to get out and start looking for furniture, in particular - sofas.

I’m going to wait until after completion though as I’m hoping to get them on finance.

Does anyone know how likely it is to get finance on sofas after completing though? My credit score is obviously going to take a bit of a battering from the mortgage so will I still be accepted?

Comments

  • ACG
    ACG Posts: 24,091 Forumite
    Part of the Furniture 10,000 Posts Name Dropper I've helped Parliament
    Its not so much the mortgage application that will hit your credit score, it will be lack of time in your address. 

    I applied for a credit card at my new address (BT the lender knew I had the balance) and it failed. I applied at my old address (as I was living between the 2) and it passed. 
    I am a Mortgage Adviser
    You should note that this site doesn't check my status as a mortgage adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.
  • Brie
    Brie Posts: 12,816 Ambassador
    Part of the Furniture 10,000 Posts Photogenic Name Dropper
    I know you want everything shiny and new in a new home (who doesn't?) but maybe look at buying second hand from a charity shop to tide you over for a while.  There's going to be so many things you're going to find you need - just stocking a kitchen can be a major expense, and all those other things like cleaning stuff, toilet paper etc etc - so keep your credit card free for all of that.  Then in a few months time (Easter sales perhaps?) things will have settled a bit and the shops will be snapping at you to give you all the credit you need.  
    I’m a Forum Ambassador and I support the Forum Team on Debt Free Wannabe and Old Style Money Saving boards.  If you need any help on these boards, do let me know. Please note that Ambassadors are not moderators. Any posts you spot in breach of the Forum Rules should be reported via the report button, or by emailing forumteam@moneysavingexpert.com. All views are my own and not the official line of MoneySavingExpert.

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  • MovingForwards
    MovingForwards Posts: 17,116 Forumite
    10,000 Posts Sixth Anniversary Name Dropper Photogenic
    I'm not saying this to dampen your excitement about buying your home, however if you read the debt free wanna be boards you'll see a lot of people have got into financial difficulties as a result of buying on credit to kit their homes out, do their homes up, extend etc.

    It's easy to walk into a shop or look online, buying something new and putting it on credit. With interest rates increasing, food and utility prices all over the place and a new mortgage, it is very easy to over extend. Get through the first couple of years, get a handle on your new budget and lifestyle and save for what you want.

    As @Brie said, buy something nice second hand, there's plenty about, it's how I've got most of my furniture.

    Lastly, the credit score you see is not what financial iisee, they have their own internal algorithms for assessing applications.
    Mortgage started 2020, aiming to clear it in 2026.
  • K_S
    K_S Posts: 6,837 Forumite
    1,000 Posts Fourth Anniversary Photogenic Name Dropper
    @goldhair86 A mortgage application a few months ago should by itself have no material impact on your chances of getting unsecured credit post completion.
    Hi all

    I’m looking to complete on my house in the next 8 weeks. I’m desperate to get out and start looking for furniture, in particular - sofas.

    I’m going to wait until after completion though as I’m hoping to get them on finance.

    Does anyone know how likely it is to get finance on sofas after completing though? My credit score is obviously going to take a bit of a battering from the mortgage so will I still be accepted?

    I am a Mortgage Adviser - You should note that this site doesn't check my status as a mortgage adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice. 

    PLEASE DO NOT SEND PMs asking for one-to-one-advice, or representation.

  • mi-key
    mi-key Posts: 1,580 Forumite
    Part of the Furniture 1,000 Posts Name Dropper Combo Breaker
    You can always order the sofa from your current address, and then arrange to get it delivered to the new house after you have moved in.  This is what I did. As the mortgage was already completed and ready it made no difference to my credit rating
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