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Mortgage newbie with an overdraft

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Hello guys,

First of all, please be patient with me, as I am a COMPLETE newbie when it comes to mortgages.

I've been living in my (agreed) overdraft for a couple of years. I get paid a decent amount, enough to cover my rent and bills, but a tough time when I was unemployed for 3 months means I've been in my overdraft for a while and I've supposed I've found it hard to get myself staying in the black before payday.

Now, I have a decent deposit amount and I'm planning to buy a cheap flat so I can easily afford payments, but would my overdraft 'issue' keep me from getting a mortgage anywhere?

Comments

  • Wh05apk
    Wh05apk Posts: 2,938 Forumite
    Part of the Furniture 1,000 Posts Combo Breaker
    If you have a "decent" amount of savings why not just repay your overdraft and save yourself some fees?

    The overdraft would not have a major impact with "most" lenders, provded it was under control.
    I am a mortgage adviser.
    You should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.
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