Mortgage application and overdrafts

NATMUM

Hi,
We are currently about to apply for a decision in principle on a property. Credits scores for both applicants is in the excellent range in Equifax. We have reduced credit card debt to below 50% of available limits and are building up a modest pot of savings over an above our 5% deposit to moving cover costs etc. We both have overdrafts left over from our student days. Mine I am always in and my partners he is in and out of. Our mortgage advisor doesn't think overdrafts will be a problem but it is really niggling at me that it might just scupper us. Any help appreciated

jessnat995

I was in my mortgage on one month bank statement for 1k but then cleared in full the next month, Nothing was ever said

Thrugelmir

Lenders score you themselves. That's all that matters. The higher the LTV. The tighter the criteria they'll you need to pass. Some lenders may have concerns that you don't manage your personal finances very well. Little point in paying for expensive overdrafts and credit whilst saving. Nor do you have any capacity to cope with financial duress. Not ideal when entering into a long term financial commitment.