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  • FIRST POST
    • Izzy8484
    • By Izzy8484 6th Mar 18, 2:26 PM
    • 28Posts
    • 46Thanks
    Izzy8484
    Advice about my finances before applying
    • #1
    • 6th Mar 18, 2:26 PM
    Advice about my finances before applying 6th Mar 18 at 2:26 PM
    Dear all,

    My Fiance and I are getting ready to apply for a mortgage in 6 months time so I just want to tidy up my finances even further to get the best deal.

    The one thing I cannot find that much info about is having too much available credit.

    My finances currently look as follows:

    Salary: 43k, soon to go up to 50k
    Debt: About 800 GBP on Amex (hopefully be paid off before mortgage application)
    Available credit on Amex: 8.2k
    Available credit on Barclaycard: 1.2k
    Available credit on overdraft: 4k

    We are first time buyers and are lucky that we have very low outgoings (child-free, no car loans etc.) and will have a deposit of about 55k. The houses we are looking for are in the 300-350k range.

    My partner is also in a solid financial position.

    Will having too much available credit make a difference?
Page 1
    • amnblog
    • By amnblog 6th Mar 18, 2:31 PM
    • 10,573 Posts
    • 4,179 Thanks
    amnblog
    • #2
    • 6th Mar 18, 2:31 PM
    • #2
    • 6th Mar 18, 2:31 PM
    No it wont
    I am a Mortgage Broker

    You should note that this site doesn't check my status as a Mortgage Broker, 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.
    • SharkBite
    • By SharkBite 6th Mar 18, 2:37 PM
    • 40 Posts
    • 26 Thanks
    SharkBite
    • #3
    • 6th Mar 18, 2:37 PM
    • #3
    • 6th Mar 18, 2:37 PM
    Credit history and affordability matter most.
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