Advice on preparing for re-mortgage

katie1983

Hi,
I'm looking for a little mortgage advice. Our fixed deal is due for renewal at the end of September 2016. My partner and I have credit cards six active, two of which were cleared off a couple of months ago. The other four have not been used for months. I was going to close all of the accounts but I have read that it may not be a great idea just before a new mortgage application with regards to our credit scores/files.
Could you please let me know what you think would be the best thing to do. The new mortgage will be for our current home and will be a 60% LTV loan. We currently have no debt apart from our current fixed rate mortgage.
Thanks for any advice you can provide.

dimbo61

Why have you got 6 credit cards ? That is a lot of potential credit which will make a Lender nervous.
You only need two.
One a cash back card for day to day use and one to use when on holiday.
If you have NIL balance on all your credit cards this will help your application.
Try not to take out any other borrowing in the next few months and check your credit file.

Thrugelmir

Never does any harm to undertake housekeeping. Close what you don't need. Lenders will appraise you directly. Ignore all the scaremongering and critique of CRA credit scores that abounds.

Thrugelmir

Never does any harm to undertake housekeeping. Lenders will appraise you directly. Ignore all the scaremongering and critique of CRA credit scores that abounds.

amnblog

At 60% LTV it is not likely to be a problem either way.