Mortgage offer received - overdraft question

badmoon

Hi there,

I've had the full mortgage offer from the Halifax and about to exchange contracts on a new build. House likely to be ready early Spring.

Haven't had an overdraft for many years though have the personal reserve thing with Barclays which again I've not utilised. Planning ahead a little and with the additional expenses a house will bring for me I was considering applying for the overdraft with my bank. I've got a pre approved overdraft limit which i can apply for at any time. I don't think I'd use it apart from occasionally as have had fingers burnt in the past but just in case..

I'm just wondering however will this affect my mortgage offer when it comes to completion when the house is ready if I have the limit on my account? As I said not intending to use it at all in the interim and hopefully not even when I've in my house but at the same time as the disposable income in my account decreases with £900 going into my savings each month rather than just staying in my account, am concerned the offer won't be there forever.

Sorry if this is a daft question.

opinions4u

I'd say now is the time to put a facility in place.

It shouldn't affect your offer in any way.

While there is the possibility that Halifax could re-score your application prior to release of funds, if you've not actually used the overdraft there should be no issues.