Question regarding bank statements/ stressed

shakey999

Okay, so we're first time buyers with a 15% deposit. This is through help from our parents. Our credit ratings are very good.

Im quite concerned about my last 3 months bank statement though. I've been going into my overdraft at the end of each month to pay off as much as I could off my credit cards.

Secondly, because the said credit card has cashback, I prefer to use this instead of my bank acc. So my bank statement mostly includes bills, credit card payments. Are banks known to ask for credit card statements?

Thanks

Dave_Ham

Not usually.

Most lenders are unlikely to be fussed by use of an overdraft within limit, unless your situation is worse at the end of each month than the month before.

Who is the lender?

shakey999

Nope, so the last two months it was used and this month I had 300 left at the end.

London and Country have suggested that we get an offer accepted on a property and then call them. They've given us their own statement in principle. Are there any lenders that have a reputation of being strict/easy going?

Dave_Ham

Should be fine, although Countrywide AIP is equivalent to your mate down the pub telling you things will be fine and stick with them...

Good luck

shakey999

Dave_Ham wrote: »

Should be fine, although Countrywide AIP is equivalent to your mate down the pub telling you things will be fine and stick with them...

Good luck

My apologies, it was in fact London and country, if that makes a difference

Dave_Ham

Nope, it is just a way to placate you until they can physically progress your case with an offer accepted.

I expect you to be fine if the overdraft is the only issue you are concerned about, although by all means get a 2nd formal broker opinion as most will not charge for an AIP or a local one a first meeting.

Good luck