Bank chat about Mortgage

Nytin

Hi everyone,

First post and hopefully not the last.

Me and my Fiance are looking to get on the property ladder and we have organised a chat with Santander about how much we can borrow, they have asked for 3 months Bank statements and some other things.

Now together we have £22,000 saved up but in Jan i had a unforeseen car problem which cost me £1000, this put me in my overdraft. instead of moving my savings (as they were building interest) around i decided to use my overdraft as it was free credit and it was cheaper than my credit card. I have only just got out of it now and my account is in a healthy balance (2k).

So my question is will the 2 months overdraft lower my chances of getting an mortgage?

hope it all makes sense

Cheers
Nytin

hcb42

was it approved overdraft? if so no problem...just go along and see what they say. You have a reasonable deposit (unless you are buying a mansion that is!)

Henry_P_Chester

hcb42 wrote: »

was it approved overdraft? if so no problem...just go along and see what they say. You have a reasonable deposit (unless you are buying a mansion that is!)

Depends what part of the country you are in. That deposit won't get you far at in London or the south east.

Nytin

Yes it was an agreed overdraft.

i am looking around the west midlands, black country area.

thanks for your help.
Nytin :T