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Getting a mortgage with overdraft...

(2 Posts)
Itsallaboutme3 Mon 13-Jul-15 19:52:11

I am thinking of buying the house i am renting with the right to buy scheme. I have quite a big overdraft which i go into each month, will this affect my mortgage application? Thanks

PinkGinny Mon 13-Jul-15 22:33:17

Possibly and probably. Under the new rules it could be seen as indicating that you could not afford a mortgage as you are unable to meet your current outgoings regularly. You should aim to reduce the amount you use each month until you remain in credit for at least 3 consecutive months.

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