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CC Debt for Application
OneLife_OneShot
Posts: 775 Forumite
When looking at debt and affordability for a mortgage, for example you owe 2.5k on a CC but you are paying £250 a month to clear it, would they look at that or will they assume a minimum repayment or 3% so around £75 a month when accounting what you can afford? Like as in you may not pay the full £250 a month but they would expect you to maintain at least minimum repayments.
I know there is not a correct answer to this just wondering what the general jist was from people who got accepted for a mortgage with CC debt.
Thank you in advance!
"All truths are easy to understand once they are discovered, the point is to discover them."
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Comments
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an application we did a fe years back took the monthly payment as 3%, the current broker has deducted the overall amount from our annual salary, so it can depend on the lender0
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Depending on your numbers you will be ok - if your tight on borrowing multipliers you may find you will have to go into a new mortgage with zero unsecured debt.0
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