We’d like to remind Forumites to please avoid political debate on the Forum.
This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
Will this affect my mortgage renewal rate
My credit card company has contacted me and offered to increase my limit. I never go anywhere near my limit just now and fully clear balance each month.
If I was to accept the increase limit, would this affect me in any way when it comes to getting my mortgage renewal rates at beginning of next year?
Comments
-
Maybe, maybe not. No figures to be subjective.
But if you never use your limit why risk it?
0 -
If you stick with your current lender you will be fine.
If you switch lenders, it MIGHT have an impact. But realistically you would have had to have been extremely borderline to begin with. Even then with some lenders it might be looked on negatively, other lenders might see it favourably.
I would not be overly worried, just do what you preference is.
I am a Mortgage AdviserYou should note that this site doesn't check my status as a mortgage adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.0 -
No. They dont even credit check you (unless you are changing term or amount, or lender, but I am guessing you arent changing lender) and everyone in the same LTV band as you would get the exact same ones offered.
0
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 355.7K Banking & Borrowing
- 254.9K Reduce Debt & Boost Income
- 456.1K Spending & Discounts
- 248.2K Work, Benefits & Business
- 605.8K Mortgages, Homes & Bills
- 179K Life & Family
- 263.6K Travel & Transport
- 1.5M Hobbies & Leisure
- 16.1K Discuss & Feedback
- 37.7K Read-Only Boards