Renting and having an Overdraft

Timetochange89

Hi

My brother and I have submitted an application for renting a flat. We have to do the credit checks and give the Estate Agents two bank statements. For quite a while I have been living in my overdraft, would this effect the application? I never go over the agreed amount and my brother does not have an overdraft. I have check my credit report and it is 'Good'

Thanks for any advice!

pyueck

Timetochange89 wrote: »

Hi

My brother and I have submitted an application for renting a flat. We have to do the credit checks and give the Estate Agents two bank statements. For quite a while I have been living in my overdraft, would this effect the application? I never go over the agreed amount and my brother does not have an overdraft. I have check my credit report and it is 'Good'

Thanks for any advice!

So long as you have a good credit rating and have enough to cover the deposit and first months rent it should be fine. However a landlord is free to make whatever decision they like about your suitability financially.

Just make sure that you identify why you were in your overdraft, and consider how the extra rent, deposit and bills will leave you financially.

Good luck!

Argghhh

if you are living in your overdraft now- having a flat will tip you over the edge after bills etc. i would get out of that overdraft habit personally

Timetochange89

Argghhh wrote: »

if you are living in your overdraft now- having a flat will tip you over the edge after bills etc. i would get out of that overdraft habit personally

I'm just giving my brother a little bit each month - he's paying the main bit - I'm getting some money from my parents in the next month so I will be able to clear it then