Can credit cards with no balance affect mortgage application?

smile86

Good Evening,

We are currently looking at houses, getting the deposit in place and will hopefully be going for a mortgage soon.

I have two credit cards, with no amount to pay off on either (thank you MSE!), the credit limit of the two combined is around £10000. When they look at my application is this likely to go against me?

I ask this as I guess they could see it as I could suddenly put myself into a fairly large amount of debt.

Thank you in advance.

kingstreet

Most lenders don't worry about undrawn credit. The only one I know which does sometimes have an issue is Yorkshire Building Society. This can impact other YBS group members, such as Accord and Chelsea BS.

If you're tight on income and go with one of them, it may be a good idea to cancel such credit.