Does a balance transfer affects mortgage offer?

Sam3007

HI all,

I have got my mortgage offer issued with 4000 debit on several credit cards which I am trying to clear but incurring interest on them. I have managed to clear one credit card with M&S and they offered me a 0 interest balance transfer for 12 months. I am planning to transfer most on the debit on other credit cards to the M&S credit card to avoid paying interest . My questions are:

- Will using this balance transfer lower my future credit score, noting that my total debit won't change on all cards? 
- Is it better to keep the limit of transferred balance below 50% of the available balance on the M&S credit?


Another question please.
Because of my excellent credit score, M&S offered me to apply for a new credit card with 0 interest on all purchases for 20 months, I am planning to apply for it but only use this credit card after completion for any urgent expenses. My question is: 
- Will this affect any final credit checks by the lender before completion? 

Thanks

WorriedKirkels

@Sam3007 not sure about the balance transfer as it’s an existing card you have but we were told not to apply for any new credit post mortgage offer and before completion, just in case the bank credit check again. Probably best holding off until after completion.

Sam3007

WorriedKirkels said:

@Sam3007 not sure about the balance transfer as it’s an existing card you have but we were told not to apply for any new credit post mortgage offer and before completion, just in case the bank credit check again. Probably best holding off until after completion.

Thanks, I agree . it is better not to apply for any new credit cards before completion.

Sam3007

Could anyone help me answer the first two questions please?

- Will using this balance transfer lower my future credit score, noting that my total debit won't change on all cards? 
- Is it better to keep the limit of transferred balance below 50% of the available balance on the M&S credit?

[Deleted User]

- Yes, but the score is irrelevant. What is important is any change in your indebtedness.

- Your total debt and limits are what lenders will look at.