Preparing finances for a remortgage 22 November 2022 at 3:54PM in Mortgages & endowments 2 replies 188 views

EnterUserName

I have about 10 months to go until I need to remortgage and am looking to do a "spring clean" to make myself an attractive borrower... To hopefully get the best rate I can.

I have access to circa £25k in credit via credit cards and overdrafts. No debt, i.e. zero utilisation. Very rarely use them (only sometimes to get that extra protection over £100 and then immediately paid off).

Here's what I have:

Credit card 1 - 7 years old - £12k limit

Bank a/c 1 - 5 years old - £3k overdraft

Credit card 2 - 3 years old - £9.5k limit

Bank a/c 2 - 1 year old - £500 overdraft

I could really run everything through bank account 1, and close the rest. I never use any of the credit, would a trim make a difference to lenders?

ACG

Realistically unless you are very borderline any changes you make on your accounts is unlikely to make any difference to the outcome. 

Just decide what is best for you, close what you dont want/need. 

EnterUserName

Brilliant, thank you.

Sounds like a case of overthinking it then!