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Mortgage application with overdraft history
LargeWrench
Posts: 5 Forumite
I'm just about to go through a Mortgage application with Virgin Money. Only now i'm getting slightly nervous about the whole process, especially since i think i've been a bit silly with my banking habits.
I'm a self employed sole trader and have both a business & personal bank account. My business account always has a healthy balance of anything up to 10k. I also have a business & personal savings account with healthy amounts in, all 4 accounts that are HSBC and linked together.
However, my nervousness is due to my HSBC personal account that occasionally goes into a small £200 overdraft. I use it for general day to day spending, socialising nights out etc as most of my bills come out of my business account. I transfer 100-200 a week into this personal account from my business to cover my personal spending. I've probably been careless going into this overdraft a couple of times over the past few months. Will they look at this unfavourably? Kind of kicking myself as i could've easily put extra money in to prevent this but didn't like the 'feeling' of dipping into savings!
My broker doesn't seem to think it's an issue as they'll look at my other accounts, but i just get the feeling they look at overdraft use negatively.
I'm a self employed sole trader and have both a business & personal bank account. My business account always has a healthy balance of anything up to 10k. I also have a business & personal savings account with healthy amounts in, all 4 accounts that are HSBC and linked together.
However, my nervousness is due to my HSBC personal account that occasionally goes into a small £200 overdraft. I use it for general day to day spending, socialising nights out etc as most of my bills come out of my business account. I transfer 100-200 a week into this personal account from my business to cover my personal spending. I've probably been careless going into this overdraft a couple of times over the past few months. Will they look at this unfavourably? Kind of kicking myself as i could've easily put extra money in to prevent this but didn't like the 'feeling' of dipping into savings!
My broker doesn't seem to think it's an issue as they'll look at my other accounts, but i just get the feeling they look at overdraft use negatively.
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