living in your overdraft

Euphoria1z

sorry if this has been posted already, but if your constantly overdrawn, and have been living in your overdraft the past yr or 2, will this impact on getting a mortgage/remortgage?

i have never gone over my agreed over draft limit but i havent been positive in over a yr.

will this be seen as a bad thing? no payments have ever been missed on my mortgage, and unsecured loans to date.

thanks

TMSL

You will be fine as long as you haven't gone over your limit and as long as you have no charges on your account for late payment etc

Euphoria1z

kool, ive only ever had one charge for late payment a few yrs ago, and the bank kindly fefunded the payment as it wasnt my fault. also ive since had more than one mrotgage taken out. im just thinking of the future, when i decide to remortgage as im on a svr, whether this will hinder any mortgage application as i doubt i will come out of constantly being overdrawn any time soon.

also, does having too much available credit on credit cards have any effect on a mortgage application? i have about 12k credit available over 4 credit cards with a balance of about 300 quid. i try my best never ever to use it but i need the availability of this limit for emergencys.

cheers!

Gorgeous_George

Does being overdrawn incur costs? Do any of the cards have a fee free period?

If the answer to both questions is yes, a little planning could save you money if you shift the overdrafyt to one of the credit cards. then, rather than paying overdraft charges, pay the credit card off.

GG