When to start looking for houses/applying for mortgage?

magicdust

Hi,

I just wondered how long I should leave it before looking for a mortgage/seriously looking for a house.

Last year I checked my credit score and realised it was 'okay' owing to using a lot of my available debt. I have a £2,000 overdraft and a £1,600 credit card. Since seeing that, I have focused on paying off both in full and am now debt free (apart from student loan). I paid these off in full after saving the amounts in a savings account, which I did to stop me spending more.

I have now set the credit card to pay off in full every month and am using it only for my gym membership, and I have a £500 buffer in my current account to stop me going into the overdraft. I don't want to close either of these as I know having available credit but not using it can be good for credit scores.

I just wondered how long I should leave it before starting to contact mortgage advisors. I didn't know if it would take a few months for me to look like a more desirable borrower for a mortgage, or if the fact I've paid them both off in full and not touched them for a month or so would be enough?

TIA

Edit: Just to add, I have never defaulted on a payment.

foxy-stoat

Start speaking to lenders/brokers when you have saved enough of a deposit and other fees to buy somewhere.

Your credit file will update monthly.