Agreeing mortgage in principle

Luha_2

Hi, What do mortgages lenders look at when agreeing a mortgage in principle? We currently have debts on credit cards (35k) however we soon have the funds to repay this and before full mortgage application.
I know the sensible thing to do is wait until all cleared however I've seen our dream home! The sellers haven't found any where yet so we have some time if we do make an offer!
Your thoughts?
Ttfn

Luha_2

Forgot to add we have good credit ratings

Thrugelmir

We currently have debts on credit cards (35k)

Forgot to add we have good credit ratings

According to who? As pretty worthless taken at face value at the current time.

Luha_2

The money on credit cards was used to finish work on our current property.
We have savings to repay the debts currently tied up with penalties if withdrawn early.
We have all debts on 0% and there was no cheaper way to fund it ready to sell the house.
The only real problem is I have seen the house we love a month or
Two early!
I am only going on credit rating we have checked on line.

So what I really wanted to know was when agreeing in principle (not full application) what do they look at?

Teaandtoast0124

Most mortgage lenders hate unsecured debt. Find a good broker.