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Will a new phone contract affect my mortgage?
NScan7
Posts: 1 Newbie
Hello, I have (stupidly) recently taken out a new phone contract not really thinking about the implications on my mortgage which has already being approved - I am in the process of completing on a flat. It was just a small upgrade (£10 a month to around £30) and now I am worried whether this will affect my mortgage? I have seen some horror stories of cancelling the contract within the 14 days affecting credit so I am just wondering should I stick the contract out or cancel - I am unsure what the best thing to do is here. I appreciate your help.
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Comments
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If a hard credit search has been done it makes no difference if you cancel as the damage is already inflicted. How/If you will be affected is impossible to say. It will depend on your credit profile and the remainder of your application data.I am a mortgage broker. 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.1
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