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which would be better?
hyb80
Posts: 5 Forumite
Which would be better ?
Keep £5k as money towards a house deposit or pay of all credit cards?
we regurlary move credit cards to interest free deals so my worry is that I don't want to pay them off if it wouldn't have a massive effect on our mortgage application. It would take us a long time to save a deposit like this towards a deposit.
The 5k however is a long term loan that has been delinked from a NRAM mortgage paying £50 a month over 19years. I know not ideal but we kept it back on the assumption that this outgoing would have less of an impact when applying for a mortgage
Which would people reccommend in terms of best course of action for applying for mortgage. ?
Keep £5k as money towards a house deposit or pay of all credit cards?
we regurlary move credit cards to interest free deals so my worry is that I don't want to pay them off if it wouldn't have a massive effect on our mortgage application. It would take us a long time to save a deposit like this towards a deposit.
The 5k however is a long term loan that has been delinked from a NRAM mortgage paying £50 a month over 19years. I know not ideal but we kept it back on the assumption that this outgoing would have less of an impact when applying for a mortgage
Which would people reccommend in terms of best course of action for applying for mortgage. ?
What is best in terms of applying for a mortgage 0 votes
Keep as deposit
0%
0 votes
Pay off Credit Cards
0%
0 votes
Pay off delink 19yr loan
0%
0 votes
0
Comments
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Pay off both then save a deposit?0
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Didn't put that as one of the options but thanks for taking the time to reply.0
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