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Looking for Advice - Credit Card or Loan when applying for a new mortgage?
My partner and I have £9000 on credit cards (money spent on house renovating) Basically, would this debt be better left on credit card or transferd to a loan in respect to applying for a new mortgage when we move house. We both have excellent credit ratings. Thanks in advance for any thoughts or opinions.
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Comments
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It would make no difference, you'd still have £9000 of debt which will impact the amount you can borrow and your ability to pass an affordability test.This is a system account and does not represent a real person. To contact the Forum Team email forumteam@moneysavingexpert.com0
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As above, it doesn!!!8217;t matter, it is debt in both cases and will likely be viewed as equivalent wherever it is.
Can you clear it before moving?0 -
My partner and I have £9000 on credit cards (money spent on house renovating) Basically, would this debt be better left on credit card or transferd to a loan in respect to applying for a new mortgage when we move house. We both have excellent credit ratings. Thanks in advance for any thoughts or opinions.
Its good your ratings are excellent but lenders dont see them.0
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