Any financial advisors here? Re: mortgage/car/credit score

[BUDFORCE]

I do have a CC that I do all my day to day spending on, including online stuff
I pay it off in full every month

I know this thread is going back a few days, but I was on erm, "vacation" but if you are already doing this, it's probably enough, it's also a really good idea to do this aside from a credit rating perspective.

Do you have a mobile phone contract?

A current account with an agreed overdraft?

If so, these will show, that's already three agreements.

In addition to that make 100% sure you are on the electoral register/voter's roll, it's by far the most important thing.

With 3 active agreements and VR that's more than enough.

You don't need to borrow money or get into debt, that'll if anything, go against you on an affordability calculator.

From the sounds of you'll be absolutely fine, get saving for that deposit!

 

[ShiWarrior]

I know this thread is going back a few days, but I was on erm, "vacation" but if you are already doing this, it's probably enough, it's also a really good idea to do this aside from a credit rating perspective.

Do you have a mobile phone contract?

A current account with an agreed overdraft?

If so, these will show, that's already three agreements.

In addition to that make 100% sure you are on the electoral register/voter's roll, it's by far the most important thing.

With 3 active agreements and VR that's more than enough.

You don't need to borrow money or get into debt, that'll if anything, go against you on an affordability calculator.

From the sounds of you'll be absolutely fine, get saving for that deposit!

yes, pay mobile monthly
Cant remember if its an overdraft or not , but i think i ditched the overdraft a long time ago as i never go into debt
yes im on the electoral roll

 

[ShiWarrior]

is it worth me getting a 0% credit card, put everything on it, whilst I'm building saving interest ? then pay it all off before it ends ?

 

[BUDFORCE]

yes, pay mobile monthly
Cant remember if its an overdraft or not , but i think i ditched the overdraft a long time ago as i never go into debt
yes im on the electoral roll

Yup you'll be fine then for the purposes of getting a mortgage

It's literally what I do for a living by the way.

 

[413x]

is it worth me getting a 0% credit card, put everything on it, whilst I'm building saving interest ? then pay it all off before it ends ?

I have a perpetual 6k on 0pc cards.
That's 6k you can invest with.

You can usually then move it to another 0pc card with 0pc fee and keep the gravy train rolling.

Give or take I've had 5-7k on 0pc for about 5 years now

 

[ShiWarrior]

I have a perpetual 6k on 0pc cards.
That's 6k you can invest with.

You can usually then move it to another 0pc card with 0pc fee and keep the gravy train rolling.

Give or take I've had 5-7k on 0pc for about 5 years now

problem is , i don't know if this affect me chances of getting a mortgage at the best rates

 

[413x]

problem is , i don't know if this affect me chances of getting a mortgage at the best rates

It won't affect the rate, but yeah if I was applying soon I wouldn't do this.

I may be wrong, but I thought that lender treated visible debt by taking it off what it would lend.

So. If it would lend 200k and you had 5k of debt. It would lend you 195k

But for the sake of a little interest, I wouldn't bother.

 

[BUDFORCE]

It won't affect the rate, but yeah if I was applying soon I wouldn't do this.

I may be wrong, but I thought that lender treated visible debt by taking it off what it would lend.

So. If it would lend 200k and you had 5k of debt. It would lend you 195k

But for the sake of a little interest, I wouldn't bother.

Yup it could affect affordability.