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Advice needed for first time buyer
ynwa2012
Posts: 2 Newbie
Evening All,
Me and my partner have currently been accepted in principle to buy a house (help to buy scheme) and are looking to reserve the property tomorrow afternoon. Now my worry is that the last few months I have been in my overdraft (not gone over the limit) will this affect my mortgage application? My partner is never in her overdraft will this help our application? Mortgage will be with Halifax. Thank you all in advance with any help/advice in this matter
Me and my partner have currently been accepted in principle to buy a house (help to buy scheme) and are looking to reserve the property tomorrow afternoon. Now my worry is that the last few months I have been in my overdraft (not gone over the limit) will this affect my mortgage application? My partner is never in her overdraft will this help our application? Mortgage will be with Halifax. Thank you all in advance with any help/advice in this matter
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Comments
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It's not a deal breaker by any means, but Halifax will need to know how much you go into your overdraft by and ensure everything fits affordability. It shouldn't be an issue unless your overdraft facility is huge and you're constantly at the limit.Slummy mummy!0
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whats the deposit sourceDon't put your trust into an Experian score - it is not a number any bank will ever use & it is generally a waste of money to purchase it. They are also selling you insurance you dont need.0
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Family member has given us the deposit (we do not have to repay)0
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Is your overdraft usage within the agreed limit or is it over the limit?0
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ExpertAdvice wrote: »Is your overdraft usage within the agreed limit or is it over the limit?
The OP says its never over the limit..Slummy mummy!0
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