Accord Mortgage - spending habits

3 Posts

Hi, I'm a FTB- to-be hopefully. Have a DIP with Accord, and hope to apply for mortgage asap. I have no debts, just an OD of couple of hundred which I can clear immediately. Other than that a student loan. I live within my means, however, in recent months I've spent a lot of money which is on my bank statements. This is due to x2 family weddings, celebrations/events, 2 holidays, plus I've been helping out a friend in recent months who was in serious financial trouble, and became unemployed had loans/fines to pay off etc. This can be seen on my bank statement as transfers so its not like I've been just spending it on shopping etc. Friend is in better situation now thank god, and will eventually pay me back. My concern is, will my outgoings on my statement be seen as a negative? Will it affect my chances of getting a mortgage approved? I should add, I only helped the friend and their family because I could afford to. My deposit was saved and not touched, and I have an emergency fund too. Otherwise my outgoings are minimal. I have approx 200 in DD, then household bills which are split amongst the others I reside with.
I understand that Accord use a common sense approach but I'm just worried my bank statements won't look too good. Should I wait until my bank statements show a better picture of my spending? Or should I trust that Accord will use a commen sense approach?
Anyone who works at Accord or had a similar experience able to offer advice/insight?
Many Thanks
I understand that Accord use a common sense approach but I'm just worried my bank statements won't look too good. Should I wait until my bank statements show a better picture of my spending? Or should I trust that Accord will use a commen sense approach?
Anyone who works at Accord or had a similar experience able to offer advice/insight?
Many Thanks
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They are looking for undisclosed credit and large or repeated commitments that may be debt repayment, maintenance, child care etc.
Actual mortgage stating amount £75,150
Overpayment start date 1/3/23.
Starting balance £66,565.45
Current balance -£65,553.80
Would this still be an issue?