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Broker recommended I lower my credit limit
Comments
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Your broker is talking twaddle.
It is not fair to say they are talking twaddle. You know what happens over the years, people build their knowledge on experience. So, they may well have had a case that considered it and that is in their mind for future cases.
The OP clearly has a too much credit available based on income. Whilst it is not likely to even be raised with this lender, it is worth pointing it out as a general point even if its not likely to be an issue this time. Especially if the person is a financial adviser rather than a mortgage adviser.I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.0 -
Sorry to be a thread jumper but my income is £90k basic (will be +£100k with bonus and anything above £100k is going into pension for obvious reasons) and I received a letter saying 2 of my cards are getting the limit increased AGAIN. Current limit across 5 cards is £55,300 and it will go to £60,700....... how can this be possible - looks like I need to actually close some but this is a shame as they have all now been open for over 6 years.Total Credit Used...=........£9,000 / £52,700
Mortgage..............=........£138,000 , 20 Years left.
:starmod:CC cashback for this year..=........£112.88 £205.81 banked in 2015
:starmod:YNAB User & Mortgage Free Wannabe
:starmod::A19/03/160 -
Only Yorkshire Building Society Group has been known to have an issue with unused credit facilities as far as I can remember.I am a mortgage broker. You should note that this site doesn't check my status as a Mortgage Adviser, 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. Please do not send PMs asking for one-to-one-advice, or representation.0
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