We'd like to remind Forumites to please avoid political debate on the Forum... Read More »
We're aware that some users are experiencing technical issues which the team are working to resolve. See the Community Noticeboard for more info. Thank you for your patience.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
AIP approved but scared of being refused mortgage
Options

Milan0
Posts: 4 Newbie
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
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

0
Comments
-
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.I am a Mortgage AdviserYou 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.0 -
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.
Thanks0 -
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.0
This discussion has been closed.
Confirm your email address to Create Threads and Reply

Categories
- All Categories
- 350.9K Banking & Borrowing
- 253.1K Reduce Debt & Boost Income
- 453.5K Spending & Discounts
- 243.9K Work, Benefits & Business
- 598.8K Mortgages, Homes & Bills
- 176.9K Life & Family
- 257.2K Travel & Transport
- 1.5M Hobbies & Leisure
- 16.1K Discuss & Feedback
- 37.6K Read-Only Boards