Credit Cards and remortgaging

housebuyer143

Can anyone advise how credit cards affect remortgaging?

My husband and I have 3 cards, all interest free. One is maxed to £3k, the other £1.5k out of £2k and the last £400 on a £5k limit.
Why do we have all these cards you say - I like to buy things interest free and save the money in my bank to make interest. Also do not like using bank cards online. They are all paid off at the end of the interest free period though and closed down. I have done it this was for over a decade.

How will this affect me when I remortgage? Will this cause alarm or will it be fine and they will just deduct the balances from affordability?

K_S

@housebuyer143 Very very generally speaking, given the relatively small size, the only impact this may potentially have is on your affordability (as per lender calculators).

Irrespective of the interest rate on the cc, most lenders will factor in a monthly payment of 3/4/5% of the outstanding debt so between approx £150-250 for the debt size mentioned in your post.

This may or may not make a difference to how much you can borrow, depending on the rest of the components of affordability.

housebuyer143 said:

Can anyone advise how credit cards affect remortgaging?

My husband and I have 3 cards, all interest free. One is maxed to £3k, the other £1.5k out of £2k and the last £400 on a £5k limit.
Why do we have all these cards you say - I like to buy things interest free and save the money in my bank to make interest. Also do not like using bank cards online. They are all paid off at the end of the interest free period though and closed down. I have done it this was for over a decade.

How will this affect me when I remortgage? Will this cause alarm or will it be fine and they will just deduct the balances from affordability?