£2.00 over agreed overdraft

Abigail1990

Hello

I am hoping to apply for a mortgage within the next couple of months. I intend to be out of my overdraft next month but to my horror realised today I have gone £2.00 over my agreed overdraft. I called the bank today (lloyds) and she said she didnt think it would affect my credit score as it was such a small amount and will be paid off on Monday.
It won't show on my 3 months bank statements as I won't be applying until March 2019 but i was wondering whether anyone thinks it could have a detrimental on my application (10% deposit, no credit card debts, no other late payments). To further complicate matters my husband is on a spouse visa and is hoping to apply with me.

Thanks for your advice in advance

Abigail1990

I was also wondering whether banks purely look at the statements you provide and the credit reference agencies or whether they have a way to look further back into your accounts and therefore have a way to see my little mishap? I bank with Lloyds and from informal advice reckon Halifax may be the bank I would be most likely to get a mortgage with , so part of the same group. If they can see me going over my agreed limit, is it likely to ruin my chances?

csgohan4

I would be wondering why you are using the overdraft when you are close to buying a house.

If it is an un-arranged overdraft that may be a problem, but it will depend.

Ignore credit scores as they are meaning less, someone with a bankruptcy in the past can get 999 . It's the history that is key.

Good luck

Abigail1990

When i say close, i mean in the first half of next year so will have been out of the overdraft by at least 3 months when i apply. Just worried that me going slightly over my agreed overdraft into an unauthorised one will negatively impact my application.

csgohan4

Abigail1990 wrote: »

When i say close, i mean in the first half of next year so will have been out of the overdraft by at least 3 months when i apply. Just worried that me going slightly over my agreed overdraft into an unauthorised one will negatively impact my application.

It may do, but lenders will look longer than 3 months into your credit history.

You might wants to consider getting a broker to help match you to a lender.

Abigail1990

Yes we were planning on using a broker anyway due to husbands spouse visa. When you say they look back longer than 3 months do you mean through checking the credit reference agencies or do they access your bank account going further back ? Thank you for your reply.

csgohan4

Abigail1990 wrote: »

Yes we were planning on using a broker anyway due to husbands spouse visa. When you say they look back longer than 3 months do you mean through checking the credit reference agencies or do they access your bank account going further back ? Thank you for your reply.

They check your credit history a lot longer, probably a few years at least, unauthorized overdraft usage may show up on those, I'm sure someone can clarify that

ACG

It might show as a status 1 on your credit report, but if the balance is brought back under before your bank sends the information to the credit reference agency it might not show at all.

A "1" is not the end of the world.

FTBuyerGlasgow

OP don't be silly, I'd be amazed if your bank even reported the £2.

Abigail1990

Thank you everyone, i think I'm just paranoid as I believe my husband's spouse visa will already mean a black mark on our names so didn't want anything else going against us! Thank you for the replies