Will an unplanned (cleared after 1 day) overdraft effect credit rating

TheBipper

As title, does anyone know if an unplanned overdraft, that was cleared the day after, is going to have an impact on credit rating. I know I'll have the bank charges (which I'm going to go in branch tomorrow to try and waive them). However I am more concerned about it having an impact on credit rating and showing on report.

Any advice greatly received.

TheBipper

To add- it was a small amount and an absolute one off.

[Deleted User]

Lenders are generally unlikely to be concerned by by a one off excursion into an overdraft.

But timing is also an issue. You wouldn't want it to happen just as you apply for a mortgage.

TheBipper

Zx81 thanks for the reply

This is my worry, we are in the middle of mortgage application- credit check has already been done but concerned that if they do another one, they may see this overdraft mark on my report. Hoping that the bank doesn't report it as I cleared it pretty much straight away.

[Deleted User]

All you can do is keep your fingers crossed. If the rest of your application is strong, it should just be a minor blip.

If you're using a broker, let them know.

TheBipper

Zx81, popped into bank today and have been told it will not have an impact on my credit score as I paid within the grace period. Phew.

Thanks for your help!

Mr_Singleton

TheBipper wrote: »

we are in the middle of mortgage application- they may see this overdraft mark on my report. Hoping that the bank doesn't report it as I cleared it pretty much.

Hey?

I believe I was around £12k overdrawn when I applied and GOT my last mortgage. It was more a case of needing to juggle money around rather than actually being £12k in debt.

#Chill