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Overdraft and Completion
Frp234
Posts: 3 Newbie
Due to exchange and complete next week with nationwide. Fundsbhave been sent already. Have dipped into my overdraft £113 showing on the credit report...is this likely to be a big problem (panicking slightly) thanks
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Comments
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When did you go into your overdraft and are you getting a mortgage from the same bank as your current account? (i.e can the mortgage provider actually see the overdraft?)
Frankly I think it won't be a problem if they've already agreed the mortgage based on years of good account management. Banks know that people have extra expenses when moving so I expect it is relatively common to either hit the overdraft or up the amount owing on credit cards.I’m a Forum Ambassador and I support the Forum Team on Debt Free Wannabe, Old Style Money Saving and Pensions boards. If you need any help on these boards, do let me know. Please note that Ambassadors are not moderators. Any posts you spot in breach of the Forum Rules should be reported via the report button, or by emailing forumteam@moneysavingexpert.com. All views are my own and not the official line of MoneySavingExpert.
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no it's with another bank but shows on the credit report.0
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Nothing to worry about at all. Congratulations on your new home!1
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Doubt it, you would have to be extremely marginal to get the mortgage and unless the mortgage is with the same provider I can’t see them finding out for a month anyway. When I was a first time buyer my broker told me to close my £6k stooze pot, frustratingly the purchase proceeded very smoothly and was done 2days before the 0% card showed as payed off.1
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