The balance of your unsecured lending may indicate a higher risk

downsey50

My credit rating is almost perfect, however, I am getting the above (see title) negative against me. I would like to know what the balance is that triggers this comments i.e. I currently owee £17k, if this was £9,999.99 would this enable me to increase my mortgate to pay it off on the basis it's not too high. A year ago I was turned away on a remortgagte on the basis of my unsecured lending (my cc) being too high.

I can't find this 'trigger amount' anywhere, plase help.

thanks

~Beanie~

There isn't a specific trigger amount, its all relative. For someone earning £15K then owing £17K would be massive, for someone earning £100K it would be a small amount.

kingstreet

This would depend entirely on the lender's criteria and acceptance of existing debt. There is no industry-wide benchmark.

TBagpuss

It will depend on your over all circumstances. As Beanie says, your income will be relevent, but so to will be your current secured lending, the amount of equity you have in your house, how many dependants you have, your job and how long you've been in it...