Available credit

starM

Hi,

I will be applying to remortgage by end of the year. I'm considering NatWest it First Direct. I bank with First Direct.

Between me and other half we have a few credit card with good credit limits. We also have a few current accounts. Will that have an effect on my application?

I have no debt on credit cards.

Thanks

bengalknights

It will come down to your income to debt ratio the higher it is the lower the mortgage offer.

kingstreet

starM wrote: »

Will that have an effect on my application?

Nope.

Not a dicky-bird.

Thrugelmir

Might as well close unused accounts. Some lenders are now starting to review such accounts anyway and giving the required contractual period notice to close.

starM

Thanks for replying back.

Wondering if anyone applied with First Direct and how did the application proceed? Did they question about any unused credit and additional current accounts?

I have a dummy application on FD website to check questions they ask. The asked:-
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[FONT=&quot]How many secured loans, personal loans, credit / store cards and hire purchase agreements do you (and where applicable the joint applicant) have?is required[/FONT]. Then they ask the lender name, credit limit and balance.

[FONT=&quot]How many other active current accounts do you have? They then ask the bank name.
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[FONT=&quot]I have had my FD account for nearly 20 years now and I would like my mortgage with them too. There rates are good.
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Thanks
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