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Credit card footprint when renewing mortgage
Ghostlike
Posts: 20 Forumite
Hello, everyone.
In November I would like to renew my mortgage, IE I'll be buying a new property and getting a new mortgage with a different lender. This will obviously involve a credit search. At the moment I have very good credit indeed.
I was thinking of applying for a new credit card and am strongly inclined to wait until after my new mortgage, to be on the safe side. BUT, hypothetically, if I were to apply now, would the "footprint" left by the new credit card company be enough for my new mortgage lender to be concerned? Just not sure how big a deal these "footprints" are.
Thanks.
In November I would like to renew my mortgage, IE I'll be buying a new property and getting a new mortgage with a different lender. This will obviously involve a credit search. At the moment I have very good credit indeed.
I was thinking of applying for a new credit card and am strongly inclined to wait until after my new mortgage, to be on the safe side. BUT, hypothetically, if I were to apply now, would the "footprint" left by the new credit card company be enough for my new mortgage lender to be concerned? Just not sure how big a deal these "footprints" are.
Thanks.
Hey you gender nectar;
Crystalline from the vine.
Crystalline from the vine.
0
Comments
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they might query it and it could be seen that if you're applying for a mortgage & a credit card in a relatively short space, they might see it as a need for money.
if you can wait until after you remortgage, wait.helpful tips
it's spelt d-e-f-i-n-i-t-e-l-y
there - 'in or at that place'
their - 'owned by them'
they're - 'they are'
it's bought not brought (i just bought my chicken a suit from that new shop for £6.34)0 -
if you apply for a credit card now your report will show a new credit account has been opened and will show the limit and balance on your new credit card. personally i would wait until mortgage is sorted:j:j:j:j:j:j:j:j:j:j:j:j:j:j:j:j:j:j:j:j0
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If your loan to value is low and the income multiplier is low and you have little outstanding credit owing then it will probably not make any difference. But otherwise, don't be surprised if it causes issues.You might as well ask the Wizard of Oz to give you a big number as pay a Credit Referencing Agency for a so-called 'credit-score'0
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dont apply for the card if you dont need itI am a Mortgage Broker
You should note that this site doesn't check my status as a Mortgage Broker, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.0 -
Thanks, everyone. Don't think I will bother applying now; sounds like I have a lot to lose and not that much to gain, on reflection.Hey you gender nectar;
Crystalline from the vine.0
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