Do balance transfers affect mortgage application?

chelseablue

I have a telephone interview this afternoon with Norwich & Peterborough for my remortage (fixed rate is ending with current provider)

Just logged into my Barclaycard account and they are offering me 0% on balance tranfers until April 2014

If I make this balance transfer today will it go on my credit file and affect my mortgage application?

ACG

Its more the fact you owe the money that will have an affect on the application - not who you owe it to.

A balance transfer doesnt involve a credit check - an application for a new credit card however would.

chelseablue

ACG wrote: »

Its more the fact you owe the money that will have an affect on the application - not who you owe it to.

A balance transfer doesnt involve a credit check - an application for a new credit card however would.

Thank you

Its only £300 that I want to transfer to my Barclaycard (that I already have) that I currently owe £239 on.

Do you know if £500 of debt would be a problem to them?

ACG

I couldnt say as i dont know anything about your application.

have a look at this http://www.nandp.co.uk/mortgages/help-me-choose

Also, when you get the offer, just make sure it doesnt state that it is a condition of the offer that the credit card is paid off (might be best asking them that before you do a credit check).

chelseablue

Thank you very much

Im booked in for a phone call from them at 2pm so can dicuss it then

They told me the call should take about an hour :eek:

ACG

That sounds about right.

I used to work for co-op mortgages doing a similar job and calls would last between 45 minutes and an hour and half (depending on whether the customer was a talker or not... otherwise known as a man or woman :P)

They will just take your personal details, employment details, address history, purchase property and solictors/estate agents details.