# Getting a Mortgage **URL:** \ **Category:** Financial Chat\ **Created:** [5 August 2019 12:41 UTC](https://community.monzo.com/t/getting-a-mortgage/75475 "2019-08-05T12:41:37Z")\ **Posts on this page:** 20\ **Page:** 2
**Author:** ![bhonobo](https://avatars.discourse-cdn.com/v4/letter/b/a5b964/32.png) [@bhonobo](https://community.monzo.com/u/bhonobo)\ **Post date:** [6 August 2019 11:26 UTC](https://community.monzo.com/t/getting-a-mortgage/75475/21 "2019-08-06T11:26:09Z")
Good to hear, happy days!! šŸ‘ ---
**Author:** ![Ordog](https://dub1.discourse-cdn.com/monzo/user_avatar/community.monzo.com/ordog/32/22446_2.png) [@Ordog](https://community.monzo.com/u/Ordog)\ **Post date:** [6 August 2019 12:27 UTC](https://community.monzo.com/t/getting-a-mortgage/75475/22 "2019-08-06T12:27:42Z")
Yeah no issues at all. Iā€™ve read on here that some people have needed to provide stamped statements or ones on official letterheads but both times I just emailed the PDF and they printed them themselves. Monzo can do all of this but you just need to ask in app šŸ™‚ To be honest I forgot about the pot transactions and such. I never explained what they were and it was fine. I guess they just check outgoings to verify how much youā€™re paying in loans and such? And that you get paid regularly in the amount that you claim šŸ¤·ā€ā™‚ļø Perhaps they donā€™t really care and ignore everything else? ---
**Author:** ![JustJordds](https://dub1.discourse-cdn.com/monzo/user_avatar/community.monzo.com/justjordds/32/29498_2.png) [@JustJordds](https://community.monzo.com/u/JustJordds)\ **Post date:** [6 August 2019 12:33 UTC](https://community.monzo.com/t/getting-a-mortgage/75475/23 "2019-08-06T12:33:51Z")
> [@Ordog](#): > > I guess they just check outgoings to verify how much youā€™re paying in loans and such? And that you get paid regularly in the amount that you claim šŸ¤·ā€ā™‚ļø Perhaps they donā€™t really care and ignore everything else? I suspect its just to check affordability - that what you told them you have coming in versus what you have coming out (committed) is true otherwise the banks will get in trouble. Canā€™t see the big banks being too worried with the size of your Sainsburyā€™s/ Morrisons shop šŸ¤£ ---
**Author:** ![will.hitt](https://dub1.discourse-cdn.com/monzo/user_avatar/community.monzo.com/will.hitt/32/41955_2.png) [@will.hitt](https://community.monzo.com/u/will.hitt)\ **Post date:** [6 August 2019 12:43 UTC](https://community.monzo.com/t/getting-a-mortgage/75475/24 "2019-08-06T12:43:33Z")
Oh wow, 999/999? How long did it take to acquire that score? Regarding the mortgage application, Iā€™m a long time from it. I love in Surrey so Iā€™m not expecting to be putting any money down for a long time. šŸ˜‚ Do you have any recommendations for building credit? Iā€™m paying off my monthly fuel with my card as a start. ---
**Author:** ![Ordog](https://dub1.discourse-cdn.com/monzo/user_avatar/community.monzo.com/ordog/32/22446_2.png) [@Ordog](https://community.monzo.com/u/Ordog)\ **Post date:** [6 August 2019 12:55 UTC](https://community.monzo.com/t/getting-a-mortgage/75475/25 "2019-08-06T12:55:16Z")
Yup, exactly šŸ™‚ All theyā€™d see is me moving money in and out of my ā€˜Dog Fundā€™ pot trying to scrape enough to afford a ridiculously priced purebred šŸ¤£ ---
**Author:** ![anon99402360](https://avatars.discourse-cdn.com/v4/letter/a/5e9695/32.png) [@anon99402360](https://community.monzo.com/u/anon99402360)\ **Post date:** [6 August 2019 12:59 UTC](https://community.monzo.com/t/getting-a-mortgage/75475/26 "2019-08-06T12:59:55Z")
Iā€™ve also got a 999 rating on Experian. You can get it for free through the MSE Credit Club. I got it by being squeaky clean - paying off everything in time. Putting everything on a credit card then paying it off. All the stuff youā€™ll have read a thousand times. It just takes a little time. ---
**Author:** ![Ordog](https://dub1.discourse-cdn.com/monzo/user_avatar/community.monzo.com/ordog/32/22446_2.png) [@Ordog](https://community.monzo.com/u/Ordog)\ **Post date:** [6 August 2019 12:59 UTC](https://community.monzo.com/t/getting-a-mortgage/75475/27 "2019-08-06T12:59:56Z")
> [@James\_Colton](#): > > I found it worthwhile paying for a credit score service (experian) just for a few months to see exactly what was influencing my score Mortgages aside this is a really good idea, especially if youā€™re planning on taking out a loan. I did the same and learnt a lot too. I also found that some companies (Vodafone was one) had marked a missed payment 3 years ago even though Iā€™ve never missed one in my life with anyone. A quick phone call got this bad mark removed but it amazes me how mistakes can be made like this and go unnoticed and how much of an impact it has on your score. The higher your score the better rates you can potentially get, again, saving you a good chunk of money. ---
**Author:** ![will.hitt](https://dub1.discourse-cdn.com/monzo/user_avatar/community.monzo.com/will.hitt/32/41955_2.png) [@will.hitt](https://community.monzo.com/u/will.hitt)\ **Post date:** [6 August 2019 13:48 UTC](https://community.monzo.com/t/getting-a-mortgage/75475/28 "2019-08-06T13:48:43Z")
Do you recommend buying _everything you can_ on the credit card then, and paying it off every month? Or will the monthly fuel be enough? I guess what Iā€™m asking is if my monthly fuel vs. monthly spending is equal in its credit value. Sorry if this is basic stuff, Iā€™m pretty new to the credit scene. šŸ˜‚ ---
**Author:** ![bhonobo](https://avatars.discourse-cdn.com/v4/letter/b/a5b964/32.png) [@bhonobo](https://community.monzo.com/u/bhonobo)\ **Post date:** [6 August 2019 13:57 UTC](https://community.monzo.com/t/getting-a-mortgage/75475/29 "2019-08-06T13:57:43Z")
> [@JustJordds](#): > > that what you told them you have coming in versus what you have coming out (committed) is true Yeah absolutely. That is why I was asking though, pot movements obscure the true in/out in Monzo. There is a month which my statement shows income and outcome much larger than my usual as I had closed two savings pots with large amounts in them, and opened another two pots with better interest rate. Monzo shows this money coming into the main account and leaving again. I suppose once you realise that these numbers include pot movements then they can still work out my **actual** spending/income. Probably just overthinking it though. Edit: Now I canā€™t find where you get the statements from, in the app. šŸ¤” ---
**Author:** ![JustJordds](https://dub1.discourse-cdn.com/monzo/user_avatar/community.monzo.com/justjordds/32/29498_2.png) [@JustJordds](https://community.monzo.com/u/JustJordds)\ **Post date:** [6 August 2019 14:00 UTC](https://community.monzo.com/t/getting-a-mortgage/75475/30 "2019-08-06T14:00:07Z")
I think theyā€™re more concerned with the Faster Payment/ BACS payment you are receiving by your employer, not the internal movements of your account. Theyā€™ll want to know what your DDs, SOs are and how much they add up to and compare that as against your monthly income. Theyā€™ll unlikely to be too bothered by one month that has a slight increase. ---
**Author:** ![bhonobo](https://avatars.discourse-cdn.com/v4/letter/b/a5b964/32.png) [@bhonobo](https://community.monzo.com/u/bhonobo)\ **Post date:** [6 August 2019 14:00 UTC](https://community.monzo.com/t/getting-a-mortgage/75475/31 "2019-08-06T14:00:49Z")
Depends on how much credit youā€™ve got. Maxing out credit cards actually lowers credit rating (even if all paid off when statement comes out). Low credit utilisation increases credit rating! ---
**Author:** ![bhonobo](https://avatars.discourse-cdn.com/v4/letter/b/a5b964/32.png) [@bhonobo](https://community.monzo.com/u/bhonobo)\ **Post date:** [6 August 2019 14:00 UTC](https://community.monzo.com/t/getting-a-mortgage/75475/32 "2019-08-06T14:00:55Z")
Makes sense, thanks!! ---
**Author:** ![Rat\_au\_van](https://dub1.discourse-cdn.com/monzo/user_avatar/community.monzo.com/rat_au_van/32/49103_2.png) [@Rat\_au\_van](https://community.monzo.com/u/Rat_au_van)\ **Post date:** [6 August 2019 14:01 UTC](https://community.monzo.com/t/getting-a-mortgage/75475/33 "2019-08-06T14:01:01Z")
If you tap you account number blue pill itā€™s on that screen (in the new nav) ---
**Author:** ![bhonobo](https://avatars.discourse-cdn.com/v4/letter/b/a5b964/32.png) [@bhonobo](https://community.monzo.com/u/bhonobo)\ **Post date:** [6 August 2019 14:01 UTC](https://community.monzo.com/t/getting-a-mortgage/75475/34 "2019-08-06T14:01:52Z")
Thatā€™s where it is, thanks!! šŸ‘ ---
**Author:** ![James\_Colton](https://dub1.discourse-cdn.com/monzo/user_avatar/community.monzo.com/james_colton/32/39073_2.png) [@James\_Colton](https://community.monzo.com/u/James_Colton)\ **Post date:** [6 August 2019 14:15 UTC](https://community.monzo.com/t/getting-a-mortgage/75475/35 "2019-08-06T14:15:36Z")
> Blockquote Do you recommend buying _everything you can_ on the credit card then, and paying it off every month? Or will the monthly fuel be enough? I wouldnā€™t recommend putting every single thing you buy on your credit card as then on the surface it would look like youā€™re maxing it out every month. Just enough transactions every month that you can afford to pay off in full/in time. Itā€™s also worth noting that using Ā£2000 of a Ā£5000 limit (40%) looks worse than using Ā£2000 of a Ā£10000 limit (20%) This is often referred to as credit utilization. ---
**Author:** ![will.hitt](https://dub1.discourse-cdn.com/monzo/user_avatar/community.monzo.com/will.hitt/32/41955_2.png) [@will.hitt](https://community.monzo.com/u/will.hitt)\ **Post date:** [6 August 2019 14:24 UTC](https://community.monzo.com/t/getting-a-mortgage/75475/36 "2019-08-06T14:24:49Z")
Thatā€™s really helpful, thank you for explaining! I think Iā€™ll stick to \< Ā£100 a month; a very low and manageable commitment. ---
**Author:** ![CJ0206](https://dub1.discourse-cdn.com/monzo/user_avatar/community.monzo.com/cj0206/32/41814_2.png) [@CJ0206](https://community.monzo.com/u/CJ0206)\ **Post date:** [6 August 2019 14:40 UTC](https://community.monzo.com/t/getting-a-mortgage/75475/37 "2019-08-06T14:40:16Z")
> [@will.hitt](#): > > Do you recommend buying _everything you can_ on the credit card then, and paying it off every month? Or will the monthly fuel be enough? I put everything on my credit card and transfer the money to pay it off as I go. ---
**Author:** ![johnbiondini](https://dub1.discourse-cdn.com/monzo/user_avatar/community.monzo.com/johnbiondini/32/22139_2.png) [@johnbiondini](https://community.monzo.com/u/johnbiondini)\ **Post date:** [31 October 2019 09:09 UTC](https://community.monzo.com/t/getting-a-mortgage/75475/38 "2019-10-31T09:09:30Z")
Hi all, I have a question about mortgages and this thread looks like a good place to start. My partner and I are planning to buy in the next 18/24 months, our credit score at the moment is good but we wanted to improve it by then. My question is around the available credit we have and I have been reading opposite opinions on how it affects the mortgage, credit score. We have: x2 bank account with nearly Ā£5,000 overdraft available x6 credit cards with nearly Ā£30,000 Now, we use just 2 of these credit cards and pay them off monthly, the reason why we still have 6 is that we used them in the past and kept them open as we thought to have more credit looked better on paper, is this really the case? Every time I closed a credit card my credit score went down for a short amount of time. Thanks in advance. šŸ™‚ ---
**Author:** ![Ordog](https://dub1.discourse-cdn.com/monzo/user_avatar/community.monzo.com/ordog/32/22446_2.png) [@Ordog](https://community.monzo.com/u/Ordog)\ **Post date:** [31 October 2019 09:28 UTC](https://community.monzo.com/t/getting-a-mortgage/75475/39 "2019-10-31T09:28:53Z")
I may be wrong but I donā€™t believe available credit is taken into consideration and as long as your credit report isnā€™t catastrophically bad I donā€™t believe that has much of an impact either. It will be too much of a risk for them to allow you to go into debt (your credit cards) to pay your debt (your mortgage) so this is why I donā€™t believe they consider it. Itā€™s more to do with how much you earn and how much disposable income you have after youā€™ve paid for everything such as bills, clothes, your nights out, loans, credit cards and so onā€¦ The bank will determine what you can afford to pay each month and will lend based on that. After all they have the house as collateral should you stop making payments. ---
**Author:** ![johnbiondini](https://dub1.discourse-cdn.com/monzo/user_avatar/community.monzo.com/johnbiondini/32/22139_2.png) [@johnbiondini](https://community.monzo.com/u/johnbiondini)\ **Post date:** [31 October 2019 11:39 UTC](https://community.monzo.com/t/getting-a-mortgage/75475/40 "2019-10-31T11:39:04Z")
Thanks, I thought the same but then I have heard few people saying ā€œIf your available credit is too hight, lender might see it as less safe to borrowā€. I guess it could depends on lenders too? [Previous page](https://community.monzo.com/t/getting-a-mortgage/75475.md?page=1) [Next page](https://community.monzo.com/t/getting-a-mortgage/75475.md?page=3)