Remortgaging whilst being in arranged overdraft

Oaktree_1

My Wife and I are due to re-mortgage in the next 5 months. We got married a few months ago which has left both of us dipping in our arranged overdraft by the end of each month since then.(not as much as the month before)

Im meant to have an appointment with our mortgage advisor in the next week or so. Are we best re-arranging our appointment and waiting for a few months so when we are asked to provide 3 months bank statements, we are able to show that we are not dipping into the arranged overdraft?

Thanks

Brie

Dipping?  If you mean going in slightly, maybe £10 or £20, then I don't think that's a massive problem.  But if you mean getting nearly to the limit before edging it down, maybe being in it for half the month, then that's something to be sorted.

Also have a look at what other credit you have and are using.  Credit cards?  You might have a credit limit for £10k and only be using £2k most months and paying off in full but the bank will still be looking at the £10k available so maybe reduce that.  Phone contracts?  Likely little you can do about those in the short term but maybe switch to a sim only contract in the future if you haven't already?  Car or home insurance?  Better to pay in full if that's possible rather than have it as a monthly payment as that is another credit agreement.    

Registered to vote - this is shown on your credit history and implies stability.

If you can sort out the overdraft now and go see the mortgage adviser at least a month later that will show that you have resolved a potential issue.  I wouldn't want to leave things so late with the adviser you don't have time to make the best decision.

Hoenir

Are you planning on selecting a new product with your existing lender or remortgaging elsewhere?  They are very different in nature.