Getting Ready to Remortgage Guide

MSE_Helen_S

Hi!

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Getting Ready to Remortgage guide.

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Thanks folks,

jamesd

In the try to drop an LTV band section it might be worth mentioning that if you put your day to day spending on a 0% for purchases card and save the money you're spending, you can use that to help you get to a lower LTV band. Even if you couldn't pay off the borrowing before the end of the 0% deal or get a replacement balance transfer the gain from the lower LTV on the whole mortgage amount would normally be more than the credit card interest cost for a reasonable amount of borrowing. The trade-off is lower affordability rating, so be sure that you'll pass that check.

Jonathanhill100

I got my original mortgage before the new checks and am worried about the level of debt I have affecting my chances or remortgaging.

I am looking at a 70% LTV mortgage of 215k and want to take advantage of the low rates atm. I have around 11k of credit card debt and 3k overdraft. No bad credit and in a job etc household income circa 60k.

Will the debt effect my application?

thanks in advance