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Available Credit card balance when applying for a 1st Mortgage
cbrsk
Posts: 25 Forumite
Thank you in advance for your thoughts.
My Wife and I are sorting out finances out pre 1st time mortgage application (we have lots of time as deposit is stuck in a house chain from probate).
Now the question is:
I have 2 credit cards (5.1k combined, zero balance as paid off monthly - used for work expenses)
My wife has 1 credit card, 8.1k just put to zero balance.
-- With 13.2k of unused accessible unsecured debt, should we consider ahead of time reducing the availability of this or is it something we really shouldn't worry about?
Across all 3 credit companies we are classed as excellent, but this question is nagging me.
Br
Chris.
My Wife and I are sorting out finances out pre 1st time mortgage application (we have lots of time as deposit is stuck in a house chain from probate).
Now the question is:
I have 2 credit cards (5.1k combined, zero balance as paid off monthly - used for work expenses)
My wife has 1 credit card, 8.1k just put to zero balance.
-- With 13.2k of unused accessible unsecured debt, should we consider ahead of time reducing the availability of this or is it something we really shouldn't worry about?
Across all 3 credit companies we are classed as excellent, but this question is nagging me.
Br
Chris.
0
Comments
-
Hi,
Not sure if the 'official' answer, but the £28k of available Credit we have has not caused a problem with any of our 3 mortgage applications.0 -
As mentioned on another thread this morning I would not worry about CC limits.I 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
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