Bank reference

CanaryYellow

Hi guys, some guidance required.

I have applied for a mortgage, have got through the credit checks no problem and am not borrowing a large mulitple of my earnings (2.5x).

My only concern now is that the bank might give me a reference that would put off the lender. At present I use my authorised overdraft every month, but don't exceed the authorised limit, I spend on my credit card, by the balance is decreasing and I have a loan, but I make the monthly repayments with no problems.

Is it possible that the bank will give me a reference that will put off any potential mortgage lender?

Anything I could do to help?

Thanks in advance.

lottie176

As far as I was aware the bank does not do a reference for you. It's your credit score that matters so if that is good then I wouldn't worry. For years I was in my overdraft but as I always paid bills and loans on time my score was good.

CanaryYellow

I hope you're right, I'm naturally a bit of a worrier I think!

I think my credit score shows me to be a responsible borrower, and whilst I use my overdraft I do so within its limits so hopefully that won't do me any harm.

As I said, credit score is fine, just subject to any reference checks with my bank that are required. I thought this was part of the mortgage application process? This is my first time though so could be wrong!

lottie176

I'm a ftb aswell so maybe they did do checks but I wasn't told about them. I've not always been fantastic with money and I'm self employed so there was extra worry with my mortgage application but Abby/Santander gave myself & my partner a mortgage. I understand your worrying completely though! Up until we got the formal mortgage offer I was convinced they'd say no for any reason under the sun! Fingers crossed for you but I think you'll be fine :-).

CanaryYellow

Thank you. You've gone a long way to putting my mind at rest. I'm going through the process with Santander too, but without the additional hassle of being self employed!

I think they'd need my permission to get a reference from my bank, so I think you'd probabaly have been aware of it had they done it.