Mortgage query

rugbymad20

Hi,

I am looking for reassurance.

We have recently got a AIP approved and are meeting with mortgage broker soon to look at lenders. We have a good deposit of £60,000 and am looking to get a mortgage of £225,000

Partners finances are very good. However, my finances are ok. Only have 1 current account with an overdraft of £450. There has been confusion on my part with payment of wages into my account at the end of each month, this meant that I went into an unarranged overdraft by £16 for 2 straight months. I paid this charge straightaway the following day so would go back under my overdraft. How much will this count against me when looking at mortgage lenders? Do unarranged overdrafts count heavily against you in the process? Am fully aware that mortgage broker will answer all of my questions but am looking for advice and answer from as many people if possible?

Thrugelmir

Everyone has blips from time to time. Lenders can glean a lot about you as a potential borrower from your entire historical profile. So you shouldn't worry yourself unduely.

rugbymad20

Hi,

Thank you for your response! Do they check your complete history then? Just thinking last year I went into my unarranged overdraft 1-2 days before payday due to my employer paying on different days in each month. This happened at least 6-7 times in the year. Very much naivety/stupidity on my part I know. The amount that I have gone into a unarranged overdraft has never exceeded £20.

I never has CCJ's or have been in any type of huge debt and have had no credit card - just one current account for 9 years. Experian/Noodle checks have come back very positive.