Credit files before mortgage application

I am nearly in a position to apply for a mortgage, but my accounts need tidying up first and I'm not sure what is important and what isn't. 

I have 9 current accounts all with benefits. I love the benefits (rewards, cash back, savings accounts etc) but would it be sensible to close some and forgo the free money? 

My longest held current account and the one where my salary goes, I have 2 0% credit cards, plus 1 with their sister bank with a balance of just over £20,000. I have the same amount in savings with them. If I apply for a mortgage with them will they take the savings into account or am I better paying off and closing the cards now? Or paying them down to a low amount, eg £200 each?

I have 4 spending credit cards (groceries, petrol etc) which are paid off in full each month. Keep all or reduce? 

What about things like Plum and YouGov Finance. Could they affect things or would they be ignored?

Thanks in advance for any advice.
Debt Free: 01/01/2020


  • Nasqueron
    Nasqueron Posts: 8,297
    Name Dropper First Post First Anniversary Combo Breaker
    Current accounts = provided no overdraft there is little reason to close, just don't go applying for new ones while applying for the mortgage as the credit checks might cause issues

    Cards paid off in full every month = keep and keep doing it, looks good for credit history

    Card with 20k balance = lender will see the debt and reduce your mortgage offer based on the debt - savings are ignored, you could put £20k on Noggin the Nag at the 12:30 at Chepstow tomorrow and lose it all. If you want to pay it off, then do so, don't leave just £200 on it, I would get rid of it all and ensure it's reported as clear on all the CRAs before applying for the mortgage

    Plum (assuming a saver only), won't make any difference, neither will YouGov finance as neither are types of credit on your record
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