I really enjoyed this! Though I currently applied for a new credit card and I am looking to buy a house very soon (within the next 3 months). Before this new CC, I had a credit score over 700, will this new CC affect my mortgage application process? Even though I have not made any purchases on the card yet.
Great video! I have £54,000 available spread over 4 credit cards. I hardly use any of the credit cards and if I do use the I always amke sure to pay off the balance before it is due. Although I hardly have outstanding balances on the cards, my concern is will a lender look at the huge £54,000 available credit as risk. If so what amount should I reduce my available credit to? I am open to closing some of the credit cards or reducing available credit on specific cards as I do not need such a huge credit. Will really appreciate a feedback. Cheers
Great Video. Do you need to provide 3 months of statements for a credit card or just an outstanding balance? How do they cross the balance amount that you provide on your application? Thanks
@@Progressfs great thanks, about to apply for my mortgage in a few weeks and my credit search amount is £3600 but my current balance is £3200 and what I will provide on my application. Does this matter that they are different?
Hi there I had no credit for years and I got ny first credit card in March. I've paid it off on time or early the past 5 months since I got it. Although it's only been 5 months, would it be a good time to try and get a mortgage now? My credit report is completely clean and I have never had any debt. Enjoying the videos btw 👌
How far back through bank statements do they go back bro ? I work full time been in same job for 8 years employed full time same amount goes in my account every month. I have 3 credit cards 3700 1200 and 450 all of them are paid off which’s one shall I close down mate.
If I pay my credit card and debt off, how long before this won't affect my mortgage application? I paid my my credit card and store card off today in full. I plan to now use my credit card for fuel purchases, paying the balance each month and close my store card. Can I apply for a mortgage in 3-4 months?
It depends on the lender, many will let you apply immediately and discount credit cards as you’ve paid them, other lenders will want the cards to be showing as cleared on credit report
@@Progressfs Thanks so much! Is it best to leave this credit card at 0 then? I was left to believe they like to you use them and pay them off each month? I was going to close the credit card down but they are useful for emergencies 😬
I had a credit card that I was using before I bought my first home however I didn’t use it for a while so my bank closed it down.. Just wondering for when I move eventually for the second time, would you suggest opening up a credit card again or will my credit score be high already from already having a mortgage so not to worry about it? Thank you
I really enjoyed this!
Though I currently applied for a new credit card and I am looking to buy a house very soon (within the next 3 months). Before this new CC, I had a credit score over 700, will this new CC affect my mortgage application process? Even though I have not made any purchases on the card yet.
Great video!
I have £54,000 available spread over 4 credit cards. I hardly use any of the credit cards and if I do use the I always amke sure to pay off the balance before it is due. Although I hardly have outstanding balances on the cards, my concern is will a lender look at the huge £54,000 available credit as risk. If so what amount should I reduce my available credit to? I am open to closing some of the credit cards or reducing available credit on specific cards as I do not need such a huge credit.
Will really appreciate a feedback. Cheers
Great Video. Do you need to provide 3 months of statements for a credit card or just an outstanding balance? How do they cross the balance amount that you provide on your application? Thanks
No you don’t, they go off what balance is seen following the credit searches
@@Progressfs great thanks, about to apply for my mortgage in a few weeks and my credit search amount is £3600 but my current balance is £3200 and what I will provide on my application. Does this matter that they are different?
Hi there I had no credit for years and I got ny first credit card in March. I've paid it off on time or early the past 5 months since I got it. Although it's only been 5 months, would it be a good time to try and get a mortgage now? My credit report is completely clean and I have never had any debt. Enjoying the videos btw 👌
Yes sure
How far back through bank statements do they go back bro ? I work full time been in same job for 8 years employed full time same amount goes in my account every month. I have 3 credit cards 3700 1200 and 450 all of them are paid off which’s one shall I close down mate.
3 months usually on bank statements, you may be ok without closing any tbh but if you want to close one probably the £450 one
If I pay my credit card and debt off, how long before this won't affect my mortgage application? I paid my my credit card and store card off today in full. I plan to now use my credit card for fuel purchases, paying the balance each month and close my store card. Can I apply for a mortgage in 3-4 months?
It depends on the lender, many will let you apply immediately and discount credit cards as you’ve paid them, other lenders will want the cards to be showing as cleared on credit report
@@Progressfs Thanks so much! Is it best to leave this credit card at 0 then? I was left to believe they like to you use them and pay them off each month? I was going to close the credit card down but they are useful for emergencies 😬
@@VictoriaG86 it won’t matter using it a little
I had a credit card that I was using before I bought my first home however I didn’t use it for a while so my bank closed it down..
Just wondering for when I move eventually for the second time, would you suggest opening up a credit card again or will my credit score be high already from already having a mortgage so not to worry about it?
Thank you
No need your history will be fine now especially as you are a home owner already with a mortgage
@@Progressfs thank you🙏🏼
How long does the system/mortgage adviser go back and check card transactions?
I’ve been maintaining and repaying in full for over a year…
Individual card transactions are credit cards are not checked at all
@@Progressfs Thank you…
I’m looking close my capital one & get a sainsburys CC far better offer