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Agreed Overdraft and Joint Mortgage
wookie008
Posts: 41 Forumite
Hi Guys,
New to the forums here so go easy on me!
So me and my better half are in the process of looking for our 1st house together and are about to look into getting a mortgage agreed which is very exciting.
Ever since I've been a student I've had an agreed overdraft and I dip into it pretty much every month. It's agreed at £1500 and I'll tend to go into it by about £500 in the worst of times. I always go into credit when I'm paid so in my eyes it's not unmanageable. I also have a 0% balance transfer card with about £1000 on it which I'm paying off each month so will be cleared by the time the interest kicks in.
We have about £20k for a deposit and looking at houses around £200k mark. Like I said my other half is awesome in money so has non of these concerns from their side. On the mortgage side it's well within what we should be able to get based on our salaries.
I just wanted to check if my regular use of an agreed overdraft will have a significant affect on any application we were to make?
Cheers guys
New to the forums here so go easy on me!
So me and my better half are in the process of looking for our 1st house together and are about to look into getting a mortgage agreed which is very exciting.
Ever since I've been a student I've had an agreed overdraft and I dip into it pretty much every month. It's agreed at £1500 and I'll tend to go into it by about £500 in the worst of times. I always go into credit when I'm paid so in my eyes it's not unmanageable. I also have a 0% balance transfer card with about £1000 on it which I'm paying off each month so will be cleared by the time the interest kicks in.
We have about £20k for a deposit and looking at houses around £200k mark. Like I said my other half is awesome in money so has non of these concerns from their side. On the mortgage side it's well within what we should be able to get based on our salaries.
I just wanted to check if my regular use of an agreed overdraft will have a significant affect on any application we were to make?
Cheers guys
0
Comments
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No, it wont be an issue in itselfI 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 -
Thanks good to know! I'd read a few posts on this forum and some of the advice had been seeming to point towards it negatively impacting any application.0
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