advice please, rejected mortgage :-(

Kynthia

m0t wrote: »

I have a question about the living in overdraft (not for the OP but for myself).

If I frequently dip into my overdraft in my current account, but have a savings account with the same bank that always has lots of cash in it, will I encounter problems with the mortgage?

Reason is that I get paid at the end of the month, pay off my credit card completely and then calculate roughly how much money I will need to cover outgoings in the month and transfer the rest to savings. Sometimes I'm a little out and just wait to get paid again rather than transfer money back from savings.

It might affect you but the fact you have savings might mean it's not important in you case. Perhaps for the next few months you should wait until the end if the month to transfer what you have left to your savings.

Good_Money

allow for extra so you don't go overdrawn