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deposit quandary
Amphibian
Posts: 33 Forumite
I've had a mortgage offer and we're all ready to move on to exchange apart from one snag. I'm short on the deposit, basically I sold some old share options to fund the deposit and they've written to me to tell me the cheque will take six weeks to arrive; I had no idea it would take such an absurd length of time. So the question is, if I were to use my overdraft to plug the shortfall of £700 in the deposit would that be okay, in view of the fact the mortgage company have already made the offer, or as it's with my bank would me suddenly going into the red set alarm bells ringing and make them pull out?
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