Affordability with cc debts

sunshine900

Hello
My partner & I were wondering how cc debt affects the amount we can borrow to remortgage & move home.
We have 50k equity in our house & a combined salary of 45k. We have 10k cc debt & a car on pcp.
Do lenders take the total debt off what they will lend you or the amount of minimum payments? The cc debt is on 0% at the moment
tia

ACG

Credit cards lenders usually use around 3% of the balance as a monthly commitment for affordability.
Loans/PCP/Leases will be the monthly repayments.

Have a play around on some affordabiltiy calculators or speak to a broker.

You might find having £10k reduces your maximum mortgage by say £30k but having £5k does not reduce the maximum at all. It is just a case of playing around on the calculators and seeing what works best.

sunshine900

thank you, will do

h240

We have £9,000 on credit cards no other debts and a income of 60k it didn’t majorly affect the amount we could borrow, we’ve got a good broker who found us a really good fixed rate