Hi guys
Myself and my wife are looking to get our first mortgage in approx 2 years time.
The reason for the 2 years is to pay off our existing depts that we have. Most of this on credit cards and a loan that ends in 18 months time.
My partner now has a better job and we are in the position where we can look to finally clear the dept.
To put you in the picture we had several cards and for the past year or so have been pretty much up to the max.
We have not missed any payments on anything for the last 6 years and checked this on our credit files last month.
I am a little concerned though as I am reading so many posts saying that lenders will not look at you for a mortgage if your previous history shows you using most of your available credit.
Is this really likely to be a massive issue given that we have never missed any payments and will be paying it off before applying for the mortgage??
Any help greatly appreciated.
Myself and my wife are looking to get our first mortgage in approx 2 years time.
The reason for the 2 years is to pay off our existing depts that we have. Most of this on credit cards and a loan that ends in 18 months time.
My partner now has a better job and we are in the position where we can look to finally clear the dept.
To put you in the picture we had several cards and for the past year or so have been pretty much up to the max.
We have not missed any payments on anything for the last 6 years and checked this on our credit files last month.
I am a little concerned though as I am reading so many posts saying that lenders will not look at you for a mortgage if your previous history shows you using most of your available credit.
Is this really likely to be a massive issue given that we have never missed any payments and will be paying it off before applying for the mortgage??
Any help greatly appreciated.