First time mortgage application advice needed

benpob

Hi,

We are, in the next couple of months about to apply for a mortgage to buy our home.

I have been reading on the advice pages that mortgage providers prefer people to keep to 50% or below of there available credit. I have recently got a 0% money transfer card which I intended to pay off the remainder of a personal loan I have.

My question is, as paying off the personal loan will more than likely use all available credit on the card, will this hinder any mortgage applications as the card would be seen as full at the time of application.

Thanks in advance.

Thrugelmir

The basis on which lenders analyse your credit data is commercially sensitive and therefore not published. Debt is debt and will factored into any decision on the basis of each individual lenders policies (at the time of application).