mortgage approval - will overdraft affect me

hi all, hope some one can help me. just about to apply for mortgage approval and as I look through my current a/c statements i see that i have been in and out of my overdraft for the past 6 months!!! so my question is will I get a mortgage even if all the other criteria for mortgage approval is fine but my overdraft in my current account is in the red half the time?

jimbojonez said:

so my question is will I get a mortgage even if all the other criteria for mortgage approval is fine but my overdraft in my current account is in the red half the time?

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It depends how "fine" the rest of your application is. It would need to be very strong for the lender to approve you when your current account is not being managed properly. Current accounts and repayment capacity are the two biggies these days.

I would imagine it would depend on how regularly maintained your savings for deposit are. If you are consistently putting away money for this, it will help. Of course there are other factors too.
Best of luck with it.