Have I scuppered my chances of getting a mortgage?

[needamortgage]

I am a first time buyer, have my deposit saved and am actively looking for a house. I have been very careful with my money for the last year plus.

I have a savings account with different "pots" of money that I use for different expenses. I also have a current account that I transfer money to from the various savings pots when necessary. So usually I don't have loads of money in the current account as most of it is in my savings account, in order to a) earn some interest and b) limit my spending on frivolous things!

This evening about 6.30pm I had to get petrol. I forgot to move money from my savings account to my current account before paying, so ended up in an unauthorised overdraft of -£10. I realised as soon as I tapped my card to pay, and on leaving the shop immediately transferred money from my savings account to take me out of the overdraft. I would have been overdrawn for 3 minutes max.

Will this still show on my bank statement as an unauthorised overdraft? The petrol payment is showing as 'pending' on my account at the moment. I really want to buy a house soon so would be so annoyed if I have negatively affected my chances of getting a mortgage over this! I have read that if you go into an unauthorised overdraft mortgage providers won't lend to you as you're not seen to be in control of your finances and you're living beyond your means. I have sufficient money, it's just in a different account.

I'm almost certain that it's calculated at the end of the day so if the spending transaction is pending and you transferred money before that was finalised, it will be fine.

This thread says the same. Try and always leave a buffer balance, or have an arranged overdraft to cover those kind of timing issues...

www.reddit.com/r/UKPersonalFinance/comments/19fia8f/accidentally_overdrawn_for_a_few_hours/

You'll be absolutely fine. It definitely won't show on anything. I go overdrawn when I forget to move money for my direct debt. I have until 3pm to make my account right before it shows on my statements or I get a charge.

Fuck no, you need to try much harder than that to be declined a mortgage.

I work in financial services. You are worrying unnecessarily. Arrange a higher authorised overdraft just in case it happens again or keep a higher buffer but seriously stop worrying.

As @lafillette says - arrange an authorised overdraft. It will be there for you even if you never use it. And if you do need to use it, it’s an extremely cheap way of borrowing short term.