Hi there,
First time buyer with some queries. Basically my boyfriend and I are wanting to buy a house and are just going through the mortgage application. He is a saint with his current account, credit card and savings. I however am not. I have a credit card that had a limit of £5,000 but I'm only using £1,680 and I also have an overdraft of £800 on my current account, I'm always in my overdraft each month and often near to the max. This overdraft is agreed with my bank and they have even asked if I'd liked to extend which I declined. I went over without realising last month and have an informal fee to pay of £25.00 but thats me not realising. Sods law. I also have a directory card which I missed two minimum payments in a row on (I totally forgot) but I just paid the entire lot off, so there is nothing on it now.... but again sods law.
First question - will my terrible banking hold against us our mortgage application? Secondly will me going over by mistake going to effect me? Thirdly can I do anything about it all? I'm absolutely petrified I'm going to cause us to be declined.
Any help or advice would be wonderful.
From Scared & Nail Bitingly Nervous.
xxx
First time buyer with some queries. Basically my boyfriend and I are wanting to buy a house and are just going through the mortgage application. He is a saint with his current account, credit card and savings. I however am not. I have a credit card that had a limit of £5,000 but I'm only using £1,680 and I also have an overdraft of £800 on my current account, I'm always in my overdraft each month and often near to the max. This overdraft is agreed with my bank and they have even asked if I'd liked to extend which I declined. I went over without realising last month and have an informal fee to pay of £25.00 but thats me not realising. Sods law. I also have a directory card which I missed two minimum payments in a row on (I totally forgot) but I just paid the entire lot off, so there is nothing on it now.... but again sods law.
First question - will my terrible banking hold against us our mortgage application? Secondly will me going over by mistake going to effect me? Thirdly can I do anything about it all? I'm absolutely petrified I'm going to cause us to be declined.
Any help or advice would be wonderful.
From Scared & Nail Bitingly Nervous.
xxx