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  • FIRST POST
    • brotherbarry
    • By brotherbarry 10th Jul 18, 4:32 PM
    • 20Posts
    • 4Thanks
    brotherbarry
    Worried about mortgage being withdrawn between exchange and completion
    • #1
    • 10th Jul 18, 4:32 PM
    Worried about mortgage being withdrawn between exchange and completion 10th Jul 18 at 4:32 PM
    I exchanged on a property back on 28th June, with completion next week on 19th July.

    Foolishly I applied for a credit card a few days ago, and now I'm worrying that the lender could withdraw the offer... My credit profile is above average on noddle and I've always paid my credit cards off in full every month.

    Are there any steps I can do to reassure myself incase credit checks are carried out again;
    • Cancel the card?
    • Pay off all credit card balances before the statement has been generated for the end of the month?
    • Check with the broker?
    • Check with the lender?

Page 1
    • letitbe90
    • By letitbe90 10th Jul 18, 4:45 PM
    • 72 Posts
    • 73 Thanks
    letitbe90
    • #2
    • 10th Jul 18, 4:45 PM
    • #2
    • 10th Jul 18, 4:45 PM
    I'll be honest, it is very very unlikely your mortgage offer will be withdrawn.
    • brotherbarry
    • By brotherbarry 10th Jul 18, 4:48 PM
    • 20 Posts
    • 4 Thanks
    brotherbarry
    • #3
    • 10th Jul 18, 4:48 PM
    • #3
    • 10th Jul 18, 4:48 PM
    Thanks... I hope so... I've heard of these occassional horror stories and had me worried!

    One other thing I forgot to mention was I am borrowing ~37k below the max amount they were willing to lend me, which should work in my favour...
    • JoJo1978
    • By JoJo1978 10th Jul 18, 4:58 PM
    • 360 Posts
    • 435 Thanks
    JoJo1978
    • #4
    • 10th Jul 18, 4:58 PM
    • #4
    • 10th Jul 18, 4:58 PM
    I think you'll be fine, but if you're worried just don't use your new card. Good luck with the move!
    Hamster in the wheel (London) 1999-2017
    Mortgage free since 2015; Pension pot sorted 2017
    Part-time gigger and charity volunteer 2018
    • avacapri
    • By avacapri 11th Jul 18, 6:09 AM
    • 30 Posts
    • 8 Thanks
    avacapri
    • #5
    • 11th Jul 18, 6:09 AM
    • #5
    • 11th Jul 18, 6:09 AM
    you should be fine, word of warning when I bought my first house a used a credit card unwisely - new fridge, cooker and sofa later and bang 3 years of credit card debt that I could not afford.
    I wish we had ebay back then!
    • datlex
    • By datlex 11th Jul 18, 7:04 AM
    • 1,692 Posts
    • 1,588 Thanks
    datlex
    • #6
    • 11th Jul 18, 7:04 AM
    • #6
    • 11th Jul 18, 7:04 AM
    I think every FTB worries about the mortgage offer being withdrawn. I know until I completed I was worried. Trouble is a search of google brings up worrying results. Looking back it would take more than a credit card application to have stopped the mortgage. When I applied for the mortgage, they were more interested in the amount I spent and my payment commitments rather than card credit limits.
    • worried jim
    • By worried jim 11th Jul 18, 7:14 AM
    • 9,297 Posts
    • 14,344 Thanks
    worried jim
    • #7
    • 11th Jul 18, 7:14 AM
    • #7
    • 11th Jul 18, 7:14 AM
    Thanks... I hope so... I've heard of these occassional horror stories and had me worried!

    One other thing I forgot to mention was I am borrowing ~37k below the max amount they were willing to lend me, which should work in my favour...
    Originally posted by brotherbarry
    Good luck with the new house! Greatest feeling getting the keys and opening your front door for the first time!
    "Only two things are infinite-the universe and human stupidity, and I'm not so sure about the universe"
    Albert Einstein
    • cloo
    • By cloo 11th Jul 18, 10:36 AM
    • 1,075 Posts
    • 1,062 Thanks
    cloo
    • #8
    • 11th Jul 18, 10:36 AM
    • #8
    • 11th Jul 18, 10:36 AM
    I think you're just anxious and your brain is looking for things to worry about (I know mine does!), you have exchanged now it'll all go through just fine.
    • quantumlobster
    • By quantumlobster 11th Jul 18, 11:05 AM
    • 144 Posts
    • 316 Thanks
    quantumlobster
    • #9
    • 11th Jul 18, 11:05 AM
    • #9
    • 11th Jul 18, 11:05 AM
    If you're really worried, OP, talk to your mortgage lender.
    • Thistle86
    • By Thistle86 13th Jul 18, 8:47 AM
    • 2 Posts
    • 1 Thanks
    Thistle86
    As long as you don't make any amendments to your mortgage (loan amendment/purchase price etc) your credit file won't be rechecked and this won't be picked up
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