Anyone know if this will affect our mortgage offer

[theclampits]

So we’ve had a mortgage offer with Halifax, selling and buying, the sale is ready but the purchase is taking longer due to the property being unregistered with the land registry.
Anyway, we’re going on holiday the end of July and I’m in serious need of some new clothes. Would doing a klarna pay in 3 likely affect our mortgage offer does anyone know ?
No I don’t have any savings, we have managed to save £30k but using that for our first couple of years mortgage payments.

I wouldn’t @theclampits i just think it’s not worth it… if it goes on too long they may ask for more bank statements. And it may change your affordability. I personally will be too afraid to do it. Do you have any friends or family that you can borrow from summer clothes from just for the holiday? Or just go to Primark and buy a few bits that are not too expensive. I tend to wear the same thing on holiday anyway.

It’s not unusual for them the run the checks again before exchange and again before completion so I really wouldn’t.

If you've already received your mortgage offer and the Klarna purchase will be paid off by mid-August, then it likely won't be a problem. If you're really worried, you could always contact your mortgage broker for a definite answer.

Personally I’d borrow a couple of hundred quid from the 30k that’s in savings. I wouldn’t do Klarna.

But on another matter…Surely you’d get a far better mortgage rate if you put the 30k down on the house as a deposit? Rather than having it sat there for mortgage payments? Doesn’t your wage cover the mortgage payments? You won’t get great interest on 30k in an ISA but it would improve your Loan to Value and get you a better mortgage deal.

Yeah this is what I’m thinking, it’s the fear of it coming back to bite me. Thanks I think I’ll just leave it. Some new clothes just aren’t worth the risk.

Hi, we’ve got 200k deposit from the self of the house

@MoveoverdarlinHi, we’ve got 200k deposit from the sale of the house so already got 47% ltv

How much are you looking to spend on clothes?

Just worrying 😭

About 300 probably

and you can’t just just bank roll 300 between now and July?

Just go so much other things to pay for with holiday spending money, one of the kids bdays, we have a camping trip to pay etc. would just be easier to do klarna without skinting me out

Take it out of the 30k then if you really need. But I think a primary trip might be better for a few bits?

Dh isnt going to let me 😆 yep I think a trip to primark will have to do

I've no idea if it will impact your mortgage offer but it simply isn't worth the risk even if there is the slightest chance it will.

I think borrowing from the £30k saved is a much better option, if you pay it back in 3 instalments the same as the klarna due dates it will be back in the savings account before you need it for a mortgage payment anyway.

This is true!! I’ll have to get round dh

I agree !

I work in mortgages. Taking out £300 in credit is very unlikely affect your mortgage offer unless 1) they need to run a credit search again for whatever reason AND 2) affordability is very tight eg, you're only passing it just now by a very small margin.

But yeah, to ensure nothing goes wrong, find another way for now 😊

It’s always recommended to never take out any new credit in between mortgage offer and completion.

Good idea deciding against it - I’d imagine it would be quite tough to explain your affordability remained OK if needing to spread £300 across 3 months

Thanks all. I’ve managed to move some payments around so I’ll be able to just use cash 😊