Mortgage Works - BUY TO LET????

First time doing a BTL with Mortgage Works (nationwide), submitted full application for a BTL that has a 7% yield. 100k property, have extremely good credit profile 999, however I am always in my overdraft which helps me save. I do have the deposit? If the underwriter requests bank statements, will it matter if I am always in overdraft (obv) not beyond the limit of 2k but always close to the limit.


  • Off the top of my head i cant remember a case with tmw where the underwriter requested bank statements.   Sometimes they'll ask for a payslip and proof of deposit isn't uncommon but not usually bank statements. 

    They are unlikely to care anyway as long as its an agreed limit and you arent going over it
  • K_S
    K_S Posts: 6,662
    First Anniversary Photogenic First Post Name Dropper
    @newtothis I don't know what docs TMW Direct ask for but for intermediary apps my experience is the same as JMA's above. 

    Based on the limited info in your post I wouldn't expect the agreed OD usage to be an issue. In any case they may not need the bank statements to see that, your credit report might show the OD balance.

    I am a Mortgage Adviser - You should note that this site doesn't check my status as a mortgage adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice. 

    PLEASE DO NOT SEND PMs asking for one-to-one-advice, or representation.

  • Newtothis3
    Newtothis3 Posts: 10
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    Thank you @Deleted_User and @K_S you have really helped! Hope it goes well! 
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