Extending credit on credit card but not utilising before getting mortgage 24 February at 2:18PM in Mortgages & endowments 2 replies 117 views

Firsttimebuyer93

Hello all,

seen various threads on here and across the internet about extending credit before you get a mortgage but wanted to get a definitive answer from this thread. I’m looking to buy in May/June as a first time buyer. I have a credit facility of 2500 which I rarely utilise above 25%. Wondering if it’s worth me extending this credit facility upto 3500 before I apply for a mortgage? I am not planning to spend anymore on my credit card than I do currently so I’m theory utilisation would go down further but I’d have not available credit. Would this positively or negatively impact my ability to get a mortgage? 

Firsttimebuyer93

Have more available credit*

fergie_

I wouldn't have thought so, as long as you aren't close to the max the mortgage company are willing to lend. However, I would check if they do a hard search when changing your limit or just simply increase it.