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I've been regularly overdrawn in past, will it count against me?
SkintMonkey
Posts: 830 Forumite
My husband and I are planning to put our house on the market within the next few weeks (will be buying second house).
Today I was looking over my past current account statements and know and again I've been quite bad and overdrawn various times (but within my approved overdraft limit) and no more than £500.
Will the morgage company see it as really bad that I've been overdrawn? Will it count against me?
Today I was looking over my past current account statements and know and again I've been quite bad and overdrawn various times (but within my approved overdraft limit) and no more than £500.
Will the morgage company see it as really bad that I've been overdrawn? Will it count against me?
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Comments
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SkintMonkey wrote:My husband and I are planning to put our house on the market within the next few weeks (will be buying second house).
Today I was looking over my past current account statements and know and again I've been quite bad and overdrawn various times (but within my approved overdraft limit) and no more than £500.
Will the morgage company see it as really bad that I've been overdrawn? Will it count against me?
Probably not - it will probably count in your favour to have a record of being in debt and paying it..... - unauthorised debt's a different story....0 -
I agree, operating within the bounds of an agreed overdraught is actually counted as responsible.
THE cardinal sin is bounced cheques, followed closely by missed Direct Debits/ Standing Orders.0 -
I know somebody who was (initially) refused a mortgage because he had never had a credit card, never been overdrawn, never had a loan but always had plenty of money.
As has been said, a bit of debt which you are able to clear may in fact work in your favour.0 -
This presumes the mortgage company has access to the data. As was pointed out to me else-thread, not all banks tell the CRAs about overdrafts, and if your bank isn't the mortgage company...Alan_M wrote:I agree, operating within the bounds of an agreed overdraught is actually counted as responsible.Conjugating the verb 'to be":
-o I am humble -o You are attention seeking -o She is Nadine Dorries0
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