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Getting Ready for a Mortgage
Alarae
Posts: 356 Forumite
Just a quick question, may partner and I are looking to possibly get a mortgage next year, as we have the option of a gifted deposit.
In relation to our credit files, I put all of the household spend through my credit card which results in a highish balance month to month. This is paid off in full every month.
In preparation of a mortgage, is it best to stop using the card and instead put all spend through my current account? If so, how long before we are planning for a mortgage should I begin to funnel my spend through my account?
In relation to our credit files, I put all of the household spend through my credit card which results in a highish balance month to month. This is paid off in full every month.
In preparation of a mortgage, is it best to stop using the card and instead put all spend through my current account? If so, how long before we are planning for a mortgage should I begin to funnel my spend through my account?
0
Comments
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No. It's fine to do what you are doing.
When you apply for the mortgage, you state the current balance and tick the "to be repaid on or before completion" box.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
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