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credit card debts and remortgaging next year
united4ever
Posts: 530 Forumite
So we owe about 10k on two credit cards (interest free until next year). Next year out mortgage 2 year fix ends and i shall be looking for a decent deal. We bought last year for 250k and 150 k mortgage. Hiw much will this debt affect our mortgage application? I am trying to save 600 a month to get close to paying it off in time for our application but not going to get all of it paid off. The mortgage is up for renewal in september. Would i be right in thinking that mortgage offers pretty much last for 6 months so come march i can apply for a mortgage (thinking interest rates may go up next year).
Thanks
Thanks
0
Comments
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Now you could look at deals from your current lender for existing customers!
You already owe them the money so they will not do a credit check BUT they will not give advice so you need to tell them what deal you want.
You have over 40% equity so should be able to get the best rates available provided your property has not gone down in value.
You existing lender may now have poor deals for existing customers compared to market leading deals from other lenders so consider using a Whole of market mortgage broker.0 -
Now you could look at deals from your current lender for existing customers!
You already owe them the money so they will not do a credit check BUT they will not give advice so you need to tell them what deal you want.
You have over 40% equity so should be able to get the best rates available provided your property has not gone down in value.
You existing lender may now have poor deals for existing customers compared to market leading deals from other lenders so consider using a Whole of market mortgage broker.
When you say 'Now' you mean next year right? Only had the mortgage for 6 months....would the early redemption penalty not apply if i am an existing customer with the same bank. Its the natwest by the way. 2.99% fixed for 2 years. Thabks again0 -
united4ever wrote: »Would i be right in thinking that mortgage offers pretty much last for 6 months so come march i can apply for a mortgage (thinking interest rates may go up next year).
3 months at best.0
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