Credit after completion

TechM89

Hi all,

I want to change my current credit card to a new 0% one. 

I won’t be doing this until I complete with keys in my hand, but I just wanted to check that once this has happened, am I free to apply for credit/spend credit (paying my mortgage isn’t going to be affected, I have more than enough to cover mortgage and debt). 

Silly question but I just wanted to check it wouldn’t affect my mortgage offer once I have the keys? 

Thanks 

TimSynths

You'll be fine.

user1977

How could it affect your mortgage? Your mortgage lender doesn't set restrictions for what credit you apply for after completion.

MattMattMattUK

Your biggest issue is that you will likely find any application will be declined for the first few months after moving until everything has settled down, electoral role moved etc. I would not bank on being able to get new borrowing for 3-6 months.

bigstevex

MattMattMattUK said:

Your biggest issue is that you will likely find any application will be declined for the first few months after moving until everything has settled down, electoral role moved etc. I would not bank on being able to get new borrowing for 3-6 months.

Not true at all, never had an issue applying for credit within days of moving twice.

johnhenstock

no issue at all. bank can't do anything anymore and the quicker you do it, the smoother it will go.

credit reports take quite some time to update, so it will be as if you apply using your old credentials.

SensibleSarah

When I bought my first house in 2010, I failed a couple of credit checks for a few months afterwards (had no issues on my report, no late payments, no other borrowing) for things like a new sofa. My Mum kindly put it in her name in order for me to have something comfortable to sit on  
I put it down to the recent mortgage so didn't dig any further. It might be different now.