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Effect of authorised overdraft usage post mortgage approval, pre exchange
gerardflanagan
Posts: 182 Forumite
I have an accepted offer on a flat and a mortgage in principle from the Halifax. Once the mortgage has been fully approved, I would like to use my authorised overdrafts in 5 current accounts (3 of which are effectively dormant) to pay my solicitor. Will this be ok or could it cause an issue?
The property is 280k. 200k mortgage, 80k deposit. I will need to pay my solicitor a total of 80k + 6k fees and the authorised overdraft usage will amount to about £3.5k.
The property is 280k. 200k mortgage, 80k deposit. I will need to pay my solicitor a total of 80k + 6k fees and the authorised overdraft usage will amount to about £3.5k.
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Comments
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How many of those authorised overdrafts are visible to Halifax on Experian? Halifax has a "live system" which re-scores your case every time something happens.
Here's a recent story;-
http://forums.moneysavingexpert.com/showpost.php?p=68920624&postcount=22I am a mortgage broker. You should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice. Please do not send PMs asking for one-to-one-advice, or representation.0 -
better off increasing the mortgage by 3k...?0
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kingstreet, I can't see any of the overdrafts on creditcheck, but could that be because I'm not using them at the minute?
pjread, my mortgage is 5x my salary, it can't be any higher.
My overdrafts are with: santander, natwest, lloyds, co-op, first direct0
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