AIP approved but scared of being refused mortgage

Milan0

Hey,

Thanks for taking the time to read this (if you do )

I have a mortgage at the moment and have never missed a payment, ever. My credit score is 999 and all bills are always paid on time. The only issue is, recently i have crept more and more into my overdraft and now its sitting at £3300 in the red.

Is it worth even applying for a mortgage with this? I have a 25% deposit for the new place from savings and the sale of my current place.

thanks again

ACG

Clear your overdraft and have a smaller deposit?
Why are you going more and more into your overdraft? You need to get your finances under control otherwise its a slippery slope.

That to one side, not applying means you are definitely not going to get a mortgage. Applying you atleast have a chance of getting it.

Milan0

I did think about that but was trying to get as low payments as I could and with a higher deposit I should get that.

I will apply and wait on the news back, if I'm refused then I will clear the OD and talk to them again.

Thanks

Milan0

Forgot to reply to this thread, i was approved for the mortgage and am hoping to exchange contracts in the next week!

Thanks ACG for your reply.