18 June 2024

Credit card debt a ‘huge problem’ for mortgage applicants

Meanwhile, Dariusz Karpowicz, director at Doncaster-based Albion Financial Advice, also speaking to Newspage, explained higher outstanding balances on credit cards can negatively affect credit scores and overall affordability assessments.

“We’re seeing more clients struggling to pay down their credit card debt, which complicates their mortgage applications,” he added.

Read the full article on What Mortgage ↗ Ask about your mortgage

This is a summary of a press appearance. The link above opens the original article on the publisher's website.

Dariusz Karpowicz is a regulated adviser and Founder of Albion Financial Advice Services Ltd, which is authorised and regulated by the Financial Conduct Authority (FRN 769375).

Your home may be repossessed if you do not keep up repayments on your mortgage. Some buy-to-let mortgages are not regulated by the Financial Conduct Authority. The information on this website is for general guidance only and does not constitute personalised financial advice.

Albion Financial Advice Services Ltd is registered in England No. 10460659; registered office: Armstrong House, First Avenue, Finningley, Doncaster, DN9 3GA.

Fees: our standard broker fee for arranging a new residential mortgage is £599 where there is no adverse credit history. Different fees apply to remortgages, buy-to-let and commercial cases. Where there is adverse credit history, our fee depends on your circumstances and will always be disclosed before any fee-charging activity begins. Your initial consultation is always free.

If you have a complaint, contact us first at info@albionfa.co.uk or 01302 590039. If you are not satisfied with our response, you may refer your complaint to the Financial Ombudsman Service: financial-ombudsman.org.uk, tel. 0800 023 4567. · Privacy policy · Shop terms

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