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Applying for mortgage with an overdraft
SHAUNHAY
Posts: 1 Newbie
Hi, forum peoples!
I and my partner will be applying for a mortgage within the next 3-6 months.
I'm trying to improve the success chance on my side so I'm wondering that because I have a £500 overdraft (which I rarely ever use) will affect the application in anyway? and if it would be better to have the overdraft removed from my account?
I look forward to hearing your feedback!
I and my partner will be applying for a mortgage within the next 3-6 months.
I'm trying to improve the success chance on my side so I'm wondering that because I have a £500 overdraft (which I rarely ever use) will affect the application in anyway? and if it would be better to have the overdraft removed from my account?
I look forward to hearing your feedback!
0
Comments
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An unused facility has no bearing.0
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A used one has little bearing if it remains within limitsI am a Mortgage Broker
You should note that this site doesn't check my status as a Mortgage Broker, 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.0 -
As above, of no real relevance (with most lenders).
You could be £499 overdrawn and be agreed vs being £1 overdrawn with no facility and be refused.
Ensure that you are on the electoral role and that any minimum payments on credit cards etc are met and all is likely to be fine.0
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