Unarranged Overdraft

JohnCurtis81

Hi All,

I am currently going through a mortgage application after I had a repossession almost four years ago. The lender is considering us and they know about the repo but they have asked for 3 months bank statements and a few other details. Last month I went £1 over my arranged o/d of £100 and corrected it the next day by transferring money from my savings... how much of a big deal is this? I am hardly ever in my o/d apart from this and it only happens as I transfer as much as possible to my savings account each month.

For your information the house is valued at £212k and we are putting down a 20% deposit.

Thanks

David_White

A lot of it may come down to presentation. If you've enlisted a broker they will no doubt give a rationale explaining why this happened.

Every lender is different however I'd expect yours to be relatively strict if they're the type to take on risky cases (ex repo).

JohnCurtis81

Thanks for your reply, I should be meeting with my broker this week so I will tell them everything and keep my fingers crossed.