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  • FIRST POST
    • Wills223
    • By Wills223 9th Apr 18, 9:19 PM
    • 1Posts
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    Wills223
    Looking for Advice - Credit Card or Loan when applying for a new mortgage?
    • #1
    • 9th Apr 18, 9:19 PM
    Looking for Advice - Credit Card or Loan when applying for a new mortgage? 9th Apr 18 at 9:19 PM
    My partner and I have 9000 on credit cards (money spent on house renovating) Basically, would this debt be better left on credit card or transferd to a loan in respect to applying for a new mortgage when we move house. We both have excellent credit ratings. Thanks in advance for any thoughts or opinions.
Page 1
    • Tarambor
    • By Tarambor 10th Apr 18, 4:39 AM
    • 3,556 Posts
    • 2,627 Thanks
    Tarambor
    • #2
    • 10th Apr 18, 4:39 AM
    • #2
    • 10th Apr 18, 4:39 AM
    It would make no difference, you'd still have 9000 of debt which will impact the amount you can borrow and your ability to pass an affordability test.
    • John-K
    • By John-K 10th Apr 18, 7:19 AM
    • 654 Posts
    • 1,023 Thanks
    John-K
    • #3
    • 10th Apr 18, 7:19 AM
    • #3
    • 10th Apr 18, 7:19 AM
    As above, it doesn!!!8217;t matter, it is debt in both cases and will likely be viewed as equivalent wherever it is.

    Can you clear it before moving?
    • DCFC79
    • By DCFC79 10th Apr 18, 10:21 AM
    • 32,563 Posts
    • 20,487 Thanks
    DCFC79
    • #4
    • 10th Apr 18, 10:21 AM
    • #4
    • 10th Apr 18, 10:21 AM
    My partner and I have 9000 on credit cards (money spent on house renovating) Basically, would this debt be better left on credit card or transferd to a loan in respect to applying for a new mortgage when we move house. We both have excellent credit ratings. Thanks in advance for any thoughts or opinions.
    Originally posted by Wills223
    Its good your ratings are excellent but lenders dont see them.
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