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Available credit
Lou24
Posts: 79 Forumite
Hi
I'm going to apply for shared ownership mortgage in a months time and was wondering if available credit would stop you getting a mortgage?
I have available £8500
Using 30% of balance and available is £8500
Would that flag up on a mortgage application
I'm going to apply for shared ownership mortgage in a months time and was wondering if available credit would stop you getting a mortgage?
I have available £8500
Using 30% of balance and available is £8500
Would that flag up on a mortgage application
0
Comments
-
From personal experience of mortgages (not shared ownership) the mortgage company didnt ask/seem concerned about available credit, but more concerned about actual balance of a CC and suggested (told us to
) that we pay it off in full before completion (advice we took). 0 -
Available credit is only an issue for YBS Group.
I've never known any other lender have a problem.I am a mortgage broker. You should note that this site doesn't check my status as a Mortgage Adviser, 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. Please do not send PMs asking for one-to-one-advice, or representation.0 -
Sorry but what is Ybs
I have a good deal of 6.5% life of balance and cannot pay it off in full ATM but if can get this mortgage it will save be £150 month0 -
Yorkshire building society group.
They may not require you to pay it off in full, just take the payments you make into consideration as to what they will lend you based on all outgoings and income.0 -
Ah ok would it help that it's 6.5 pay for rest of life of balance rather the. 0% for 9 months0
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