How to maximise Mortgage amount

srajeevkumar

Dear All,

I always considered me to be financially savvy ( I think ). I have played the 0% credit card game very well without being over exposed at any one point in time. Currently, I have over 13K in various credit cads on 0% deals (both 0% balance transfer and 0% on purchases deals). I pay minimum payments on all these credit cards and it totals to only GBP 145 a month. I always have and had enough savings to clear these credit card debts comfortably, but I choose not to, to gain on the savings interest (Stoozing as MSE calls it). I don't have any other debts.

Now the challenge. I am looking to move house and want to maximise the mortgage amount I can borrow. I am on a decent wage and in a stable job for over 7 years. My credit rating is classed as Excellent as I have never defaulted on any of my regular payments.

(1) Will I be better off closing my credit cards to maximise the mortgage that banks and building societies can offer me? This will leave me with a smaller deposit to pay for my next house. Also I would not have maximized the benefit of the balance transfers (As I have incurred a cost of around 2 to 3% for each of the balance transfer).
(2) I am finding it difficult to sell my current house, but letting out the house maybe easier for me. How does me having a property to let affect my chances of maximising the amount of mortgage I can be provided?

Is it best that I approached a Independent financial advisor to discuss this? Can anyone suggest a good IFA who can help to maximise my mortgage payments.