mortgage & debt

[findusrancake]

How much impact does credit card debt have on mortgage lending?

Have a 5k holiday booked on the credit card. Planning to buy in autumn but randomly have seen a house we would like to offer on. Earn just over 100k combined & have a 30% deposit saved.

Your maximum loan amount will differ from lender to lender, but might be e.g. 4.5 times your combined salary. As I understand it, any existing debt is subtracted from this to give you your maximum mortgage amount.

Ok thank you, normally the holiday would be payed off asap but it's likely it will be canx anyway.

Unless you are very close to your affordability and are essentially over stretching yourselves, they won't particularly care about £5k holiday on £100k plus pa.

ok thank you

with a good income and decent deposit probably very little. Especially if you are making sure there are regular payments towards your credit card and not going into arrears on it

For the record we had over £10k on our credit card with similar figures to you at the time we bought our house (thanks IVF). They didn't even ask for our credit card statements and we got our offer within 24 hours.