Eyeing up a New Mortgage

JamesJupiter

Morning Everyone

I was hoping one of you helpful lot could help me with this small query.

In a few months I'm hoping to but a new property with my partner, both of us are on a healthy combined income and have no crippling financial commitments.

I have a current mortgage, running for just under 5 years at just under £300 per month, whilst she has a car on an HP agreement at just over £200 per month.

I've recently taken a look at my financial situation for affordability purposes and this week I was planning on contacting my old credit card company, mail order company and my old bank with whom I still hold unused, in-credit facilities to ask them to close down these available lines of credit.

My only concern about cutting off these lines of credit would be that some of these accounts are the longest running accounts and financial commitments that I've held. Obviously these accounts demonstrate my good behaviour toward my financial commitments and my ability to pay.

If I close these accounts it would only leave me with my mortgage account and my recently opened current account and credit card.

So when I apply for my new mortgage do you think limiting my commitments now would reflect well on me several months down the line on a mortgage application?

I know every bank and financial organisation would view my personal circumtances in different ways but I want to appear favourable and not look as though I run the risk of making use of my available credit.

I hope this makes sense.

Thanks in advance

dimbo61

You have a mortgage, current account and credit card and the way you conduct these account reflects on how you manage your finances.
Having lots of " old" CC cards, and accounts which you dont use is pointless so close them down and build up savings if you plan on moving to pay fees ETC