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FTB + Ownhome scheme
Cloister
Posts: 139 Forumite
Hello,
I am currently applying to the ownhome scheme for government help in buying a house and I was wondering if I really needed to order my credit in a certain way for a better possibility of acceptance.
I have 2 x credit cards.
Barclaycard at £500 credit limit of 5850.
Virgin at 2500 credit limit of 3900.
I also have an 8500 Loan but I don't think there would be anything I could do with that at the moment.
I have never missed a payment in my life and have checked my credit report and all seems fine there it backs up what I say,
Now my main question is:
With the two cards, I will nearly pay the balance off on friday, leave about £100. Would it be better to transfer the remaining onto my virgin card and close the barclaycard completely?
So that I have a lot less available credit or is it better to leave the available credit sitting there? and don't forget that I'm going to be using the co-op for this if it makes any difference.
Thanks
I am currently applying to the ownhome scheme for government help in buying a house and I was wondering if I really needed to order my credit in a certain way for a better possibility of acceptance.
I have 2 x credit cards.
Barclaycard at £500 credit limit of 5850.
Virgin at 2500 credit limit of 3900.
I also have an 8500 Loan but I don't think there would be anything I could do with that at the moment.
I have never missed a payment in my life and have checked my credit report and all seems fine there it backs up what I say,
Now my main question is:
With the two cards, I will nearly pay the balance off on friday, leave about £100. Would it be better to transfer the remaining onto my virgin card and close the barclaycard completely?
So that I have a lot less available credit or is it better to leave the available credit sitting there? and don't forget that I'm going to be using the co-op for this if it makes any difference.
Thanks
This signature was previously violated by my wife, that'll learn me to stay perma logged in.
Fortunately, the offending comments have now been removed - my apologies to all who had to read it and laugh at my expense.
Fortunately, the offending comments have now been removed - my apologies to all who had to read it and laugh at my expense.
0
Comments
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Do you have a deposit?poppy100
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No, The ownhome scheme will provide between 20 and 40% as an equity loan.This signature was previously violated by my wife, that'll learn me to stay perma logged in.
Fortunately, the offending comments have now been removed - my apologies to all who had to read it and laugh at my expense.0
This discussion has been closed.
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