Overdraft & mortgage application

starbarboy

Hi there

Any use of an overdraft is only one part of the picture that underwriters use to assess your application and is by no means a problem in itself.

Good luck on getting your mortgage.

Stephen

CluelessFTB_2

Thank you. I spoke to a broker on the phone and he has said the same it won't be a show stopper and with my salary, credit history etc I should be fine. I am looking to borrow near my maximum though so I do want it to be a clean as possible!

The other option is we wait another 3 months and I ensure I stay out of my overdraft - which is probably the better option. Although all new builders keep ringing me saying that their prices will go up in June...! Not sure I believe that but it is enough to panic me for a few seconds!!

marshmallowkisses

Good luck with the application. I am in a similar position and looking for a 95% LTV also. I'm hoping that considering my partner's salary and mine combined look good, as well as good credit histories, we should be ok. Just the overdraft worrying me!

Let us know how you get on

Thrugelmir

CluelessFTB wrote: »

Although all new builders keep ringing me saying that their prices will go up in June...!

Wonder why they keep ring you. :think:

Thrugelmir

marshmallowkisses wrote: »

. Just the overdraft worrying me!

From a personal perspective there's little point in rushing into the biggest financial commitment in your lifetime. Mortgages need to be paid for 25 years, month in month out. So the better prepared you are. The less stressful life ahead will be.

CluelessFTB_2

Will do! Likewise marchmallowkisses - good luck with your application!