Mortgage application chances of approval

wpearson92

Hi all Mse users,
I'm currently saving up for a mortgage and will have a 10% deposit in the summer probably around September. Anyway I went overdrawn on my bank account last June after switching they closed my overdraft limit and I didn't realise this would affect my credit report or show as going overdrawn when I set up a repayment plan anyway when I found out it was affecting my report I paid this
Off in full this was settled in October. Anyway I want to know what impact would this have on my application. I have no outstanding other missed payments.
I have car finance outstanding
At 11000 which will be roughly 8000 when I come to buy an house. All other forms of credit are paid in full at the end of everymonth.

I am looking at a mortgage of between 90-100,000 and I earn 39900 a year and I am currently 22 years old. Thankyou in advance for any advice/help

amnblog

Depends how this has been reflected in your credit report.


Not likely to stop you getting letting, but will exclude some lenders.


Be smart and use a mortgage broker when the time comes