Credit check anytime up until completion??

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Jamgeorge
Jamgeorge Posts: 89 Forumite
in Mortgages & endowments
Hi I’m about to exchange contracts with persimmon. I have a formal mortgage offer with Nationwide. I was going to look at sofas on 0% interest free credit but I don’t think I am going to do this now as I didn’t realise Nationwide would credit check us again anytime up until completion. We don’t complete until December as it’s a new build. Anyone had this done to them? Thanks
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  • [Deleted User]
    [Deleted User] Posts: 35,242 Forumite
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    Don't apply for any further credit until you have completed.

    It's a low risk but not one worth taking
  • Jamgeorge
    Jamgeorge Posts: 89 Forumite
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    I def won!!!8217;t like you said it is not worth it. Can I ask though- I have a credit card that I have a few hundred on it was declared during full app etc so no secrets. I!!!8217;ve been dipping in and out of my card but not done nothing out the usual. I!!!8217;m talking extra £45 or £20 here and there. I am worried now in case that affects things!!! I!!!8217;m exchanging next week
  • jaelato1
    jaelato1 Posts: 139 Forumite
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    As long as you are not making huge spend on it I wont be worried but as best practise though, I'll probably hold off on spending any credit until completion
  • [Deleted User]
    [Deleted User] Posts: 35,242 Forumite
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    If you're clearing in full and not running up debt, it's fine.
  • Jamgeorge
    Jamgeorge Posts: 89 Forumite
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    No I!!!8217;m not clearing it in full but it had hundreds on at the time my formal mortgage offer came through. I am
    not going to be using it anymore. Thanks
  • sheepy21
    sheepy21 Posts: 221 Forumite
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    We just got our mortgage with Nationwide, they credit checked us for our DIP and that was it, we didn't take out any other credit however until we completed.
  • Jamgeorge
    Jamgeorge Posts: 89 Forumite
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    Thanks for the reply. Yeah we got checked at our dip stage too 100% and I think the full application but not 100%
    Thanks
  • AnotherJoe
    AnotherJoe Posts: 19,622 Forumite
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    Jamgeorge wrote: »
    Hi I!!!8217;m about to exchange contracts with persimmon. I have a formal mortgage offer with Nationwide. I was going to look at sofas on 0% interest free credit but I don!!!8217;t think I am going to do this now as I didn!!!8217;t realise Nationwide would credit check us again anytime up until completion. We don!!!8217;t complete until December as it!!!8217;s a new build. Anyone had this done to them? Thanks

    There are always sofas on interest free credit, and completion aimed for December could easily delay until the new year (when there will no doubt be a shed load of "sales" as well) , so I'd hold back anyway.

    Plus of course as everyone points out, its not a risk worth taking ,especially so when you'd be buying something 6 months ahead of when you need it and most likely paying top whack as well compared to waiting until you are in the house. Even if you do move in in December, live on bean bags for a month or two and save in the post xmas sales.
  • Jamgeorge
    Jamgeorge Posts: 89 Forumite
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    Yep that!!!8217;s what we just said we are not going to get any new credit. I!!!8217;m worried now though that I!!!8217;ve spent about £100 on my existing credit card
  • AnotherJoe
    AnotherJoe Posts: 19,622 Forumite
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    Jamgeorge wrote: »
    Yep that's what we just said we are not going to get any new credit. I'm worried now though that I've spent about £100 on my existing credit card


    they dont expect you to live on baked beans for the next six months !
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