Precise mortgages please help?!

Acan

Will living in my 750 overdraft effect my chances of getting a mortgages. Got 250 limit on ccard. My hubby has 250 overdraft. Just paid off two loans that totalled 7k. Hubby is self employed n I wrk part time. We never miss payments

martin.cat

As long as your within authorised OD limit you will be fine. You will be asked for 3 months of statements
My wife is on maternity leave so her OD has ballooned a little but still within limit.

stator

It won't rule you out from a mortgage, assuming it's an arranged overdraft, but it doesn't show you in the best light as being able to manage your money?

Kynthia

Some mortgage lenders don't like it. So if you can get out of them for the three months before you apply then great. If not then see what your independent broker says, as they'll also give you advice about who to apply to when self employed too.

Acan

Unfortunately due to the bank not updating my balance I've gone over the agreed overdraft. Few days here n there but paid money in straight away. We are asking for a 66k mortgage on a 155k house so hope this works in our favour as its about what we got mortgage wise now and have had the current mortgage for 8 years n never missed payments. Now we've paid off the loans we have 300 extra a month so we should clear my overdraft v soon. Broker thinks it should b ok but I'm very concerned xx

ACG

Precise are not in my good books at the minute, historically I would have said you should be fine but im not so sure anymore. They seem to be going through bank statements with a fine tooth comb.

I dont want to say they are looking for reasons to not lend as I dont think that is the case but it wouldnt surprise me if living in your overdraft and going over the limit was enough to have the case declined - despite the equity.

I know its far easier said than done, but there is no point worrying about it. What will be will be, you worrying is not going to change the outcome so I would sit back and wait to see what they say.