mortgages

[Linnet]

If dh and I were to apply for a joint mortgage would they say no when they see that dh goes slightly into his overdraft every month just before pay day?

We don't have a joint bank account, when he gets paid he takes his share of the rent, bills etc out of his account and it goes into mine where all the bills are paid from, these are always paid we're never in debt to anyone. He always has some money from his pay left over but for some reason, mainly because he doesn't pay attention, he always ends up about £10 short to pay his phone bill, direct debit, so it eats into his overdraft.

Would the bank manager laugh us out of the bank if we looked into getting a mortgage?

You usually have to give 3 bank statements - they are interested in if you an afford the repayments and to make sure you don't have any payments refused - not that you dip into an overdraft limit...sounds like you'll be fine

As long as he doesn't go over his overdraft regularly he will be fine.

oh good, he never gets anywhere near the limit of his overdraft, it's usually just £10 sometimes £20. His overdraft is more than that.

thanks

Is this your first mortgage Linnet ?

Yes Lilyloo, will that make a difference?

Just that i was on last nighyt where a first time buyer had been ripped off by a mortgage broker so take care and make sure you shop around as banks don't always have the best deals. I know a little more about this as dp a broker and it makes me so cross when people get ripped off due to lack of knowledge esp when first time buyers.
If you want any help let me know my dp has helped others on here