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    • BattleToads
    • By BattleToads 16th Jun 17, 4:39 PM
    • 21Posts
    • 11Thanks
    Will this effect mortgage offer?
    • #1
    • 16th Jun 17, 4:39 PM
    Will this effect mortgage offer? 16th Jun 17 at 4:39 PM
    Hi all,

    Received a mortgage offer from Nationwide yesterday. However something I have overlooked is that Barclaycard are planning to increase my credit limit by an additional 1,500 as part of an account review they have conducted, not a limit increase that I myself requested. The card is always paid off in full.

    My concern is that if Nationwide were to credit search again before the exchange is completed, they would see the increase to available credit and might come to the conclusion that I applied for it. Causing the offer to be withdrawn.

    Barclaycard have increased my limit before, again due to their own internal review and if I remember correctly this didn't result in any hard search against me. However I am also concerned that if I reject the new limit Barclaycard may do a search to try and see if there is some other change in circumstances to why I would reject their 'wonderful offer'.

Page 1
    • Stu_N_
    • By Stu_N_ 16th Jun 17, 5:12 PM
    • 195 Posts
    • 112 Thanks
    • #2
    • 16th Jun 17, 5:12 PM
    • #2
    • 16th Jun 17, 5:12 PM
    Chill out, this won't make any difference
    • ellison007
    • By ellison007 17th Jun 17, 8:08 AM
    • 66 Posts
    • 17 Thanks
    • #3
    • 17th Jun 17, 8:08 AM
    • #3
    • 17th Jun 17, 8:08 AM
    Nothing to worry about; checks mostly all done by computer anyway. I reckon you'll be OK.

    There are a few posts re. further credit checks post mortgage application prior to completion on this forum. No definitive answer - some lenders do, some don't. I can see the logic behind a lender doing so tho' i.e. you could receive a mortgage offer based on a declaration of no CC debt & then run up CC debt immediately afterwards...
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