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!
The Forum now has a brand new text editor, adding a bunch of handy features to use when creating posts. Read more in our how-to guide
Agreed Overdraft Use - Underwriting
mjb1974
Posts: 21 Forumite
I have a DIP with Nationwide for a new build and will be submitting full application in next 5/6 weeks once I have a more accurate date for builders completion.
I also have a £400 agreed overdraft with Nationwide which I occasionally (partially) use but always clear immediately when my salary is paid in and have never exceeded agreed limit.
Would it be unwise ahead of potential underwriting etc to use this and should I avoid it from a perceived affordability point of view?
Dont want to create any silly issues for myself. Any advice would be a help.
(On DIP Nationwide have only specified Most recent payslip, P60, Proof of address and Proof of name to be submitted)
I also have a £400 agreed overdraft with Nationwide which I occasionally (partially) use but always clear immediately when my salary is paid in and have never exceeded agreed limit.
Would it be unwise ahead of potential underwriting etc to use this and should I avoid it from a perceived affordability point of view?
Dont want to create any silly issues for myself. Any advice would be a help.
(On DIP Nationwide have only specified Most recent payslip, P60, Proof of address and Proof of name to be submitted)
0
Comments
-
I also have a £400 agreed overdraft with Nationwide which I occasionally (partially) use but always clear immediately when my salary is paid in and have never exceeded agreed limit.
Overdraft usage will score against you. (As suggests finances are tight). Something lenders will consider when lending you £'000's of £'s.
Best avoided. Use your savings instead.0
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 353.4K Banking & Borrowing
- 254.1K Reduce Debt & Boost Income
- 455K Spending & Discounts
- 246.5K Work, Benefits & Business
- 602.8K Mortgages, Homes & Bills
- 178K Life & Family
- 260.5K Travel & Transport
- 1.5M Hobbies & Leisure
- 16K Discuss & Feedback
- 37.7K Read-Only Boards