Mortgage Yes or No?

lawriejones1

My overdraft is used every month too, made not one iota of difference to their calculation. I have access to over £25,000 worth of credit should I want it. Dipping a few hundred into an overdraft every month before payday is hardly a deal breaker.

Amount of deposit and payment history is probably a bigger issue for most lenders.

marshmallowkisses

Thanks all for the advice. I actually managed to pay £250 off of my overdraft today - it's now sitting at £400. The main reasons being in it so much over the last few months were mostly unexpected expenditure such as car breakdowns and garage fees! However it had been steadily getting paid off so I wouldn't say I can't manage my money. Credit cards are never used an only paid off every month in excess of the minimum payment.

lawriejones1

I think if you were hooning it around and spending hundreds in Hugo Boss, Prada or shops across town but for most of us a car repair or breakdown is being paid out from a credit card or the overdraft!

Best advice is to get to a broker whom is personally recommended. You can spend hours worrying about these things, until someone with a nice desk and a calculator punches the numbers.

marshmallowkisses

Thanks all. I just had a chat with a Financial Adviser today who was very helpful, and seemed to think we had a good chance considering our incomes and although we do have credit cards/overdrafts, we are on top of these (OH rarely uses his, and I have demonstrated mine is being paid off despite using it for around 10 days every month recently due to "emergencies" - don't we all have them!). When I get paid it always goes way above the limit also.

Anyway I am sitting here trying to convince myself it will be fine. We have our appt with CB on Friday, so I will let you know how it all goes.

Thanks for all the advice.

Let_Us_See

Still procrastinating I see!!! Should of let the adviser complete an online DIP and you would have received an almost immediate response. You now have another three days of worry, forum posting and Pro.........................? Good luck on Friday.

marshmallowkisses

Let_Us_See wrote: »

Still procrastinating I see!!! Should of let the adviser complete an online DIP and you would have received an almost immediate response. You now have another three days of worry, forum posting and Pro.........................? Good luck on Friday.

Unfortunately we tried that last night! The CB said their first appointment to do that over the phone was 6th June! Hence why I had to go into branch today and get their earliest appointment...Friday

Thanks

have_faith

Our mortgage application went in on Thursday and still heard nothing back, although I've no idea how long these things take...

have_faith

marshmallowkisses wrote: »

Unfortunately we tried that last night! The CB said their first appointment to do that over the phone was 6th June! Hence why I had to go into branch today and get their earliest appointment...Friday

Thanks

Had same problem, but after lots of phoning around branches we also managed to get one a lot sooner. We were also told 6th of June, which we cancelled. Must be busy after dropping interest rate... And the fact they are apparently the only ones offering 95% LTV.

Let_Us_See

An AIP for CB could be completed online by almost all mortgage advisers in a couple of minutes. no need to wait for ponderous and pedantic bank.

have_faith

MA's we spoke to said they couldn't get us a deal through Clydesdale as they don't work with brokers...