Credit file ready for mortgage

dazanteney4

Hi,

I am looking to take out a mortgage within the next 3-6 months and i have a quick question about my credit file.

I'm trying to make sure its a good as it can be!

I have two debit accounts (one with first direct and one with Nationwide), savings with both and a credit card with nationwide.
The account i mainly use is the FD one, should i move all my savings across to FD and move with credit card then i can fully close my nationwide accounts?

Or does it not make a difference?

simeyb

To be honest, I wouldn't worry as I suspect it will make no difference if that's all you have? The main thing is that you have no defaults, late payments, CCJ's etc and that from an affordability perspective you are OK. I'm sure others will have views to help you too.

dazanteney4

simeyb wrote: »

To be honest, I wouldn't worry as I suspect it will make no difference if that's all you have?

Yeah that's pretty much it in a nut shell, other than things like mobile phones and car insurance.

AndyBSG

In some strange and completely illogical way, if you close an account it can actually damage your credit rating as I found out when I closed down an old dormant bank account and saw my credit rating drop

"Don't close your old accounts!
Another important factor to your credit score is the average age of your accounts. By keeping an old card open that you don't use, you add history to your report. If you were to go and close this account, your average history would be reduced thus decreasing your score."