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Original poster

Getting a mortgage with overdraft...

1 reply

Itsallaboutme3 · 13/07/2015 19:52

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

OP posts:
PinkGinny · 13/07/2015 22:33

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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