Do I need to "improve" my creditworthiness?

agrinnall

I'm in the fortunate position of being mortgage free with no other debts. I have three credit cards which I use most months and pay off in full (DD so I don't accidentally miss any payments). I currently have no income while studying for a Masters degree so I'm living off my savings. When I come to look for a job there's a very good chance that I will have to move to find one, if that's to a higher cost part of the country I may well need a mortgage again.

As an example, I might have £200K of my own money and need to borrow another £100K. Assuming the salary I get allows me to borrow and repay that much is there anything I should be doing to improve my credit score with lenders? Or am I likely to already be regarded as a good risk? I currently have an offer from Barclaycard for a 0% transfer until Feb 2012 (with a charge of 2.99%), would my credit record be better if it shows that I'm paying off over a period of months rather than simply paying in full every month? One other thing is that I still have £1 on my last mortgage with Nationwide, would that put me in an advantageous position to borrow again from them?

dorset_nurse

If you have a credit card and you are paying it off in full it still counts as borrowing credit.
You could check if the mortgage you still have is "portable" if it is a good rate and use that for the next mortgage you need.
Either way I don't think you will have a problem, I have been in a very similar situation and I didn't!