Bit of advice please!

apcrozier

Hi,

I need a bit of advice. I currently have a balance of 8k on my 2 credit cards (1 is 0% for 12 months). Circumstances mean my wife and I need to get on the ladder if possible asap. Ideally I would like to pay my debt off first but our situation means we need to find somewhere asap. Realistically Is it possible to get a mortgage with this much debt? Our annual income is 46k combined. My wife is due to go on maternity leave any time soon, which also adds to the problem. Any advise would be very much appreciated.

Thanks!

keith_lard

If your payments are on time and no arrears, having a credit card should (in my view) help you to get a mortgage!
It shows you can handle credit and kepp up re-payments.
I had 4 credit cards all had a balance, and was given the ok.

Its only when you can not meet the minimum and you skip payments this will not go for you when applying for a mortgage.

Hope this helps and good luck applying!

K.

apcrozier

Thanks for that. In that case I might take a trip to the bank and have a chat with the mortgage advisor.