Authorised overdraft

Pammy

Hi,

I have an AIP and now its the formal process. They want 3 months worth of bank statements.

I am concerned about my authorised overdraft for £2005, I get paid £2300 a month, so always eat into it. Never go into unauthorised territory.

I can get rid of it if I need to now. Is it to late? is it an issue?

Thanks

Pammy

Sorry to bump this but I would really like some advice if this plays a part in the affordability of the mortgage repayments.

Thank you

Wutang_2

Can't see it being a problem - tell the potential lender all about it (its only early AIP days - don't worry about it).

Pammy

Thank you

Thrugelmir

Why not clear your overdraft with your savings?

Pammy

I can easily but it seems like to do this now when the horse has bolted. If they make it a condition I can do it.

Thrugelmir

Seems an expensive way of saving money. In fact its costing you money.

Pammy

Well its not so bad now as recently I am over the overdraft but its the previous months I ate into it.

But I agree with you. I will get rid of it.