We’d like to remind Forumites to please avoid political debate on the Forum.
This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
Credit card debt and mortgages
arcon5
Posts: 14,099 Forumite
How does credit card debt affect mortgages?
For example, my wife has a cc balance of £650. I have a cc balance of £330.
We're reluctant to reduce it with our savings as we need as large a deposit as possible.
Will this affect our ability to borrow?
For example, my wife has a cc balance of £650. I have a cc balance of £330.
We're reluctant to reduce it with our savings as we need as large a deposit as possible.
Will this affect our ability to borrow?
0
Comments
-
Not such a small amount no. They may take monthly payments into account which may reduce the amount they will lend when you have credit card debt but I think they will probably ignore yours as it is minimal debt.I’m a Forum Ambassador and I support the Forum Team on the Debt free Wannabe, Budgeting and Banking and Savings and Investment 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.
The 365 Day 1p Challenge 2025 #1 £667.95/£391.55
Save £12k in 2025 #1 £12000/£120000 -
More questions and still no Broker?
You will need to post thousands of questions before you might get up to the speed of an experienced Broker.I am a Mortgage Broker
You should note that this site doesn't check my status as a Mortgage Broker, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.0 -
Nothing wrong in trying to gain some knowledge before approaching somebody. Just the act of approaching somebody is daunting as we don't have a clue who they are and whether they are gonna look after our interests or just their own, don't know what sort of fees to expect and when they are paid. Nothing.0
-
Nothing wrong in trying to gain some knowledge before approaching somebody. Just the act of approaching somebody is daunting as we don't have a clue who they are and whether they are gonna look after our interests or just their own, don't know what sort of fees to expect and when they are paid. Nothing.
avoid estate agent brokers, find a local independent whole of market one, google etc
I found mine on MSE"It is prudent when shopping for something important, not to limit yourself to Pound land/Estate Agents"
G_M/ Bowlhead99 RIP0 -
-
Thrugelmir wrote: »Debt is debt. Might as well wait another month or so and improve your overall financial situation. If money is that tight.
From what I've been reading across the internet and forums etc that is not the case and small amounts of debt won't be detrimental.
We would rather than delay it a month unless it turns out to be detrimental for reasons I don't wish to go in to.0 -
We have just got a mortgage with an £18000 loan and 2 car finances at around £12,000 each. With a high street lender. So I think you'll be fine!0
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 351.7K Banking & Borrowing
- 253.4K Reduce Debt & Boost Income
- 454K Spending & Discounts
- 244.7K Work, Benefits & Business
- 600.1K Mortgages, Homes & Bills
- 177.3K Life & Family
- 258.4K Travel & Transport
- 1.5M Hobbies & Leisure
- 16.2K Discuss & Feedback
- 37.6K Read-Only Boards