Organising Finances for Remortgage

village_life

Hi

heard lots of scare stories about new processes for remortgages, so with ours due later this year I want to make sure our banking is as "clean" as it needs to be for that purpose.

Current situation as follows:
Bank Account 1 - Salaries paid into here. We then transfer out monthly to other accounts, leaving £500 per month discretionary spending in this account
Bank Account 2 - Covers all scheduled bills, so we transfer from Account 1 just enough to pay these per month. Payments made by DD/SO
Credit Card 1 - we pay for fuel and groceries on this (plus any other ad hoc transactions in month) and then clear at end of the month.

With assessment of finances, wondering if we should be re-organizing this to make it easier to demonstrate our solvency! - Any thoughts appreciated.

Cheers

kingstreet

You don't need to do anything.

Just pay everything on time and repay your card each month in full to avoid interest.

The MMR has been heavily exaggerated by the media and the levels of micro management advocated in some places simply aren't required.

Thrugelmir

You appear financially both disciplined and organised. Proceed directly to go. As Kingstreet has said previously. MMR is not what it is portrayed to be in the media. The issues are more to do with a culture of borrow today pay tomorrow. Some borrowers need protection from their own over optimism.