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will being overdrawn affect application?
moneyshoe
Posts: 97 Forumite
Hi Everyone,
Got AIP from Nationwide last week. Offer accepted so doing full application, they are asking for 3 months bank statements.
House price 345K
Deposit 125K
Loan amount 220K
my salary £55 000
A couple of months ago we had some unexpected Direct debits and went £200 into our (approved) overdraft. I noticed a few days later and transferred some money in to take us into credit again. It's the first time we've been overdrawn since I was a student. No other credit, debt etc, will this be a problem?
Got AIP from Nationwide last week. Offer accepted so doing full application, they are asking for 3 months bank statements.
House price 345K
Deposit 125K
Loan amount 220K
my salary £55 000
A couple of months ago we had some unexpected Direct debits and went £200 into our (approved) overdraft. I noticed a few days later and transferred some money in to take us into credit again. It's the first time we've been overdrawn since I was a student. No other credit, debt etc, will this be a problem?
Earn £2015 in 2015: £13:33/2015
0
Comments
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Nope.
They are only really interested in unauthorised borrowing charges, unpaids etc - basically poor account conduct.I am a mortgage broker. 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. Please do not send PMs asking for one-to-one-advice, or representation.0 -
When I applied they just wanted to see that I wasn't more than £200 over drawn for the past 3 months so I very much doubt it's going to cause you any issues.0
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ah really? i've been into my overdraft (£600 for a couple of months). it'll be paid off by the time i apply (not been paid properly through work).
!!!!!!helpful tips
it's spelt d-e-f-i-n-i-t-e-l-y
there - 'in or at that place'
their - 'owned by them'
they're - 'they are'
it's bought not brought (i just bought my chicken a suit from that new shop for £6.34)0 -
We have just bought a house with a 10% deposit and I ws regularly using my £1100 overdraft. It didnt cause us any problems. As long as you dont exceed your limit and can demonstrate good money management skills you should be fine.
We used a broker as obviously they know which lenders are not so keen on overdraft use/not too bothered by overdraft use.
Goodluck0
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