Mortgage advice regarding unarranged. One for broker.

Newbie_loan

Hi there,


I know I'm stupid yes,

Have a IFA and have been offered a flat to buy from a new build company.

The ball is rolling my mortgage broker is looking for a mortgage, this is difficult for being a 95 ltv as it has a commercial property under it,

My question is?

I have two bank accounts, one my bills come from and one my payment salary gets paid into.

I transfer my money over to my account that the bills come out from and then so on...

I have looked into my bank account my salary comes into and it seems the last two months just gone i have go into a unarranged overdraft ( I don't have a overdraft)!

How will this effect my mortgage application? I'm crazy annoyed for my self!!!!

am I not likely to get a mortgage or could I get one but with someone like Cheshire who have relatively high intrest rates.


Oh by the way my credit file is perfect and this does not show on any credit report.. I have a credit card etc but not high.

Do mortgage application require them bank statements??

Any advice would be great,

I feel like this is the only thing that could let me down.

amnblog

New build flat.


Over commercial.


5% deposit


Overdrawn at bank




I am surprised your 'IFA' is playing along with this - it won't happen.




1. Check if the OD situation is reflected in your credit file
2. Wait until 3 months have passed
3. Look for a property that is not new build and not over a commercial or
4. Find a larger deposit

kingstreet

95% on a newbuild flat is practically impossible as amn said.

Never mind the rest of it!

Newbie_loan

It's a shared ownership property on 25% share not a full mortgage

Senior_Paper_Monitor

..... and you can be assured that makes it more difficult, not better I'm afraid.


Your IFA is welcome to that one