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Poor credit score due to available credit
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Thrugelmir wrote: »With the same size mortgage?
No it'll be a bigger mortgage.0 -
What is generally the acceptable ratio for unsecured vs income ?0
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There are no specific formula, as every lender treats differently.
If your unsecured debt is over 100% of your income, your chances are dramatically reduced.
Car HP/Balloon Finance etc. do not help out in these scenariosI am a Mortgage Broker
You should note that this site doesn't check my status as a Mortgage Broker, 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.0 -
What is generally the acceptable ratio for unsecured vs income ?
Mainstream lenders use far more complex ways than this based on your previous 72 months of credit history. In particular they are looking to identify trends i.e. living beyond ones means. Rolling over debt on 0% cards, making only minimum repayments, consolidation loans.0
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