Extremely nervous - need to apply for mortgage

Northerner

I'd like to move, so a mortgage application is required but I'm a money worrier.
It'll be approx 60% LTV (£100k mortgage required) on joint earnings of almost £37k. On paper the calculators will offer us around £135k.

But we use most of our £1k OD each month although obviously clear it every month. Would it adversely affect our application? Currently have halifax mortgage, 50% LTV, ever missed a payment with around 10 yrs to go. Would we be best to stick with current lender?
Thanks

kiddakidda

Any other credit commitments, car HP, Credit cards, Child care, child maintenance etc?

gallygirl

If you are using your 1k overdraft every month how will you cope with a larger mortgage?

Thrugelmir

Northerner wrote: »

although obviously clear it every month.

Only when you get paid. So what's your back up plan. What's going to happen when you get an unexpected bill or you don't get paid for some reason.

Northerner

Absolutely hear you. Laziness I guess, we start off in the OD and end up in the sane sort of place. I claw it back to about 300£ with ease and have small amt of savings for eventualities.
Mortgage isn't a long term thing as I have inheritance on it's way but not banking on it clearing for at least 6 months as some minor complications.
However I'm going to work on RARELY using the OD - will 6 mths clear make a difference to our application.
Regarding other debt, just £1.2k for another 12 mths 0% card.
Mortgage although larger would be over 20yrs not the current 12 we have remaining as payments then about the same and very manageable