Applying for a mortgage

tjrwguinevere

Hi. I will be applying for a mortgage in the next 6 to 8 weeks and wanted to know if I apply for a 0% credit card now, whether it will affect my chances of getting a mortgage.

I plan to transfer a balance and pay it off before we complete for a mortgage, but my wife has this impression that if I have a balance on my card it looks bad.

Thanks

Contemptuous

It's sounds like you'll have a balance regardless? As you've said you want to do a transfer.
It's not advisable to apply for credit before a mortgage application, as it's another search on your credit file.

tjrwguinevere

I thought that. Should I worry if I have a small balance o/s. I will have approx £300 outstanding on the card.

David_White

I would avoid things like credit card balance transfers just before applying for a mortgage.

Also, is there much point of doing a balance transfer for £300 if you're going to clear it before completion anyway?

tjrwguinevere

Probably not. I just don't like paying interest.