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remortgaging with an overdraft

6 replies

7weeks · 13/02/2007 22:54

Due to renew our mortgage due to our fixed rate deal coming to an end. We have found a good deal and have no other debts apart from a car loan.

However, as we were leaving, the chap said he would probably need copies of bank statements for last 3 months but because of Christmas my bank account is not looking very healthy My January statememt ends at -700, February ends with -300. March, if the lender will wait that long, will not be overdrawn because I will have caught up with myself.

Could they refuse us a mortgage just on the statements? There is no overdraft facility on partners account so he is fine.

OP posts:
MrsJohnCusack · 13/02/2007 23:11

nope! loads of people have authorised overdrafts. they'd probably just take the total of the overdraft off the total they'd lend you on the mortgage IYSWIM. Probably not particularly relevant in a remortgage anyway

CocoLoco · 13/02/2007 23:37

I don't think you've got anything to worry about, we've had mortgages with much less healthy finances than that!

ledodgy · 13/02/2007 23:43

You've nothing to worry about many people remortgage to pay off debt including overdrafts..you'll be fine!

jura · 13/02/2007 23:43

This reply has been deleted

Message withdrawn at poster's request.

7weeks · 14/02/2007 08:38

Thanks.. thats a relief!

OP posts:
Bozza · 14/02/2007 08:48

to me that sounds fine - especially as they can see the debt reducing IYSWIM. Our bank account is looking pretty similar just now!

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