Shifting Credit Card dept before remortgaging

DamoMalone

I currently have just over £13K in credit card debt and am also in the last months of my 2 year fixed mortgage. If I were to get a loan to pay off the credit card (utilising a lower borrowing rate) would this have an affect on my upcoming remortgage application?

MWT

Just to be clear, are you planning to move to a different lender, or just take a new fix from the current lender?

DamoMalone

I was looking to take a new 2 year fix with my current lender as that would be simpler and not actually cost much different from a full move

kingstreet

No status checks on a rare switch/product transfer.

A remortgage is a new mortgage with a new lender to repay the old one and the deed which secures the loan with the property has to change.

RelievedSheff

If you are just doing a product switch with your exiting lender then there will (in most cases) be no further credit checks or affordability checks. So it won't make any difference.

If you plan to remortgage to a new lender then you will have a new application and they will check you current lending so they will do further credit checks and affordability checks. In this case you are better not having recent credit applications.