Overdraft and mortgage application

Amara

Hello everyone!
I've received a letter from my bank they would be willing to double my overdraft, if I spoke to them. I wouldn't mind my overdraft be increased, but I want to apply for mortgage in next two months. Will it affect my application? Advice please.

jonesMUFCforever

If you use the overdraft - yes it will affect your mortgage application.

DevCoder

Even if you don't use it, if your bank which holds your un-utilised overdraft is the same as the one doing your mortgage then they will probably take the un-utilised overdraft into consideration as you could draw down on it at any time.

If its a different bank (in a different banking group) then they don't get to see any un-utilised credit lines.

Amara

I'll take mortgage in different bank, most likely. Will it be fine? I don't really need overdraft , but just in case . Perhaps is better if I wait until I'll apply for mortgage ? I don't want my application be rejected for sake of it.
They've also written, should I want bigger overdraft, it's subject to credit score status. Does it mean that offered one isn't ?

chanz4

if you don't use it, don't double it