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Is there a limit to items on finance?
random333
Posts: 3 Newbie
My partner and I currently have 2 cars on finance under his name as he is full employed and I am self employed.
We are currently purchasing a house (got through the mortgage stage thank goodness!) and we are looking at appliances / kitchens / flooring options that we can get on finance.
My question is - with applying for finance - do they take in account all your other items on finance or would it be a blank slate for each supplier?
We don't want to mess up my partners credit....
Many thanks.
We are currently purchasing a house (got through the mortgage stage thank goodness!) and we are looking at appliances / kitchens / flooring options that we can get on finance.
My question is - with applying for finance - do they take in account all your other items on finance or would it be a blank slate for each supplier?
We don't want to mess up my partners credit....
Many thanks.
0
Comments
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They will consider your total indebtedness.0
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It's not so much the number of items you have on credit, more the total value of debt you have as far as I understand it.0
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Its called affordability, it will most likely be part of the decision making process.
Of course a credit check looks at other things too, but affordability is the key thing these days.I’m a Forum Ambassador and I support the Forum Team on the Debt free wannabe, Credit file and ratings, and Bankruptcy and living with it boards. If you need any help on these boards, do let me know. Please note that Ambassadors are not moderators. Any posts you spot in breach of the Forum Rules should be reported via the report button, or by emailing forumteam@moneysavingexpert.com. All views are my own and not the official line of MoneySavingExpert.For free non-judgemental debt advice, contact either Stepchange, National Debtline, or CitizensAdviceBureaux.Link to SOA Calculator- https://www.stoozing.com/soa.php The "provit letter" is here-https://forums.moneysavingexpert.com/discussion/2607247/letter-when-you-know-nothing-about-about-the-debt-aka-prove-it-letter0 -
Standard advice is not to apply for further credit until the purchase is completed. Mortgage lenders can perform further credit checks right up until the 23rd hour.0
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