Applying while also getting a mortgage

2bak860

Hi,

I have a credit card that is costing me £14-20 in fees every month, which I don't currently use and I'm trying to clear.

I should look at a 0% balance transfer card - right?

Question is, I've just had a mortgage offer approved. Does this affect my credit? I've looked on Equifax and I seem to be ok?

thanks,

Foxy-Stoat_3

You mean £14-£20 in interest?

You can apply for a 0% BT card after you complete on your new mortgage, or overpay and clear the balance quicker.

2bak860

Thanks Foxy-Stoat - best to wait after the mortgage has completed?

What would happen if I applied now?

thanks

Foxy-Stoat_3

By taking out additional borrowing you are changing the financial information your lender as based their decision to lend.

You have a mortgage approved in principle, until its completed and funds changed hands anything can happen.

eskbanker

If your signature is accurate and up to date then it would definitely be worth avoiding increasing your available credit if there's an open mortgage offer potentially at risk - it doesn't seem worth jeopardising that for the sake of £20 a month!