Mortgage Advice Pleas

Jman123

Ok so I’m looking for some opinions please. I’m looking to Re-mortgage in the next couple of months but I want to know if the following will be a problem.

My credit rating in general is “Excellent”

The last few months my short term (credit cards) debt has increased quite a lot due to a mix of
The mrs being on a reduced wage (mat leave)
Car problems
Christmas

So I’ve made a lot more purchases than usual and made a number of money transfers. So my short term debt has increased. My utilisation was about 20% of my credit limit it’s now about 50%.

Note by the time I apply for mortgage it’ll be about 40%.

I was in the “excellent” bracket on 2 reliable credit agency’s but have now dropped to high in the “good” rating catagory. I signed up to another today and they advise “Fair” but i don’t know how realiable that one is. (NODDLE)

Anyway. I don’t want the slow but sudden increase in credit to show badly as it’s not necessarily a reflection of bad financial management it’s just been a difficult few months but annoyingly has fell just before I want to remortgage.

Does anyone foresee any problems as such?

There should be no additional borrowing for the next 2 months and I’ll be making some chunky (ish) payments off my balances but obviously no where near clearing the amount I’ve put on.

Thanks

[Deleted User]

The credit ratings are fictional. It's the facts that matter.

As in how much you owe, what you earn and the value of the remortgage.

Jman123

Ok so my balance will be about £6k from a limit of £13k. Up from about 2k only a few months ago.

I earn good money. (Nothing mega, but good) and according to the calculators on a lot of sites in general places would be willing to offer more than I want to actually borrow.

(On the basis of my income and outgoings etc)