We’d like to remind Forumites to please avoid political debate on the Forum.
This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
First time buyer with authorised student overdraft.
alibumblebee
Posts: 32 Forumite
Hi everyone,
Just looking for a little bit of advice. My husband and I have got a meeting booked with a mortgage adviser at the Halifax next month (just after we get back from our Honeymoon :-D ) and I was wondering if having an authorised student overdraft will affect whether we will be granted a mortgage or not?
I graduated last year and even though I do not use this account anymore now we have a joint account I still transfer money into it monthly to pay the overdraft off.
We've got a deposit of £25,000, looking for a house around the £100,000 mark. I could just pay the overdraft off out right but if I can carry on paying it off in £100 installments each month I'd rather do that as it means we've got a higher deposit, but if it will be frowned upon I'll clear it up.
Hope that makes sense!
Thanks,
Alison.
Just looking for a little bit of advice. My husband and I have got a meeting booked with a mortgage adviser at the Halifax next month (just after we get back from our Honeymoon :-D ) and I was wondering if having an authorised student overdraft will affect whether we will be granted a mortgage or not?
I graduated last year and even though I do not use this account anymore now we have a joint account I still transfer money into it monthly to pay the overdraft off.
We've got a deposit of £25,000, looking for a house around the £100,000 mark. I could just pay the overdraft off out right but if I can carry on paying it off in £100 installments each month I'd rather do that as it means we've got a higher deposit, but if it will be frowned upon I'll clear it up.
Hope that makes sense!
Thanks,
Alison.
0
Comments
-
Authorised overdrafts shouldn't be a problem at 75% LTV and certainly not with Halifax.The J is a Financial Advisor-This site doesn't check anyone's status and as such any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice. Always seek professional advice.0
-
Thanks for your help!0
-
Hi - I've just got a remortgage with the halifax and have a graduate bank account with an authorised overdraft which I constantly live in lol !
x0 -
I have been approved with Halifax and have a student overdraft in still paying off (so long it's not even a graduate account anymore) anyway it wasn't even raised.0
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 355.6K Banking & Borrowing
- 254.8K Reduce Debt & Boost Income
- 456.1K Spending & Discounts
- 248.2K Work, Benefits & Business
- 605.8K Mortgages, Homes & Bills
- 179K Life & Family
- 263.5K Travel & Transport
- 1.5M Hobbies & Leisure
- 16.1K Discuss & Feedback
- 37.7K Read-Only Boards