will i get a morgage if i use my overdraft alot?

hayles1_2

Im in the process of buying a house. my morgage advisor says that natwest will lend to us in principle.
we both have really good credit reports (excellent 999)

but i dip in and out of my pre arranged overdraft weekly but my boyfriend will only go in to his overdraft by a couple pounds if and when he does which isnt very often

Will this effect us getting the morgage?

thanks

Thrugelmir

Why are you dipping into your overdraft? This gives the indication you are not in control of your finances. Copies of your recent bank statements may well be requested.

hayles1_2

It's where direct debits are set up to go into my savings. We both have savings enoygh for the deposit required and i dont earn very much atall but he earns 2.5 times as much as me. Is this going to make a difference on the morgage application as I always pay my bills on time never have any late fees or payments and now only have £200 on a credit card that will be paid off next week

jamesperrett

I've done a similar thing for years - usually dipping into my overdraft by a few pounds each month and I've not had a problem with getting a mortgage (or credit cards). However, I also have a reasonable level of savings and a LTV of under 50%.

James.