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!
Not sure what to do - mortgage application in 2-3 months

AliceBanned
Posts: 3,166 Forumite


I have 4 credit cards which I am paying off at £750 monthly - current balance just over £6000. One of the cards (balance £3000) runs out of its 0% deal on 20th April - I recently was accepted for a Virgin BT card in December but the deals have run out on that and my other cards. The MBNA card will be at 29.9% when it runs out.
Should I apply for a new 0% card or will that impact too negatively on my mortgage application? I have worked out that interest would be around £70 if I don't do a BT and pay it off by the end of the deal, but I want to apply to remortgage soon so not sure whether to just take that hit of the cost of interest to avoid jeopardising mortgage application.
I have only just put current flat on the market and the market seems slow. I do need to save a bit for the legal fees too so don't really want everything to happen too quickly. Will probably rent in between properties anyway as this will be cheaper in the area I live compared to current (shared ownership flat) costs.
Should I apply for a new 0% card or will that impact too negatively on my mortgage application? I have worked out that interest would be around £70 if I don't do a BT and pay it off by the end of the deal, but I want to apply to remortgage soon so not sure whether to just take that hit of the cost of interest to avoid jeopardising mortgage application.
I have only just put current flat on the market and the market seems slow. I do need to save a bit for the legal fees too so don't really want everything to happen too quickly. Will probably rent in between properties anyway as this will be cheaper in the area I live compared to current (shared ownership flat) costs.
0
Comments
-
When I've played with different mortgage calculators they seem to favour credit card debt to fixed loans ie when I put my 5k loan monthly payment in it gave me 25k less than if I put that I owed 5k on credit card, so i wouldn't be to worried about switching to a new 0% credit card.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