Overdraft Account

Hi ,

Whose here willing to shed some light . My husband's personal account at this moment was under £4000 overdrawn .Will be using his personal account as tenants used to paid in his PA . Yes, he meet above £18,600 but My question is Does it affect to our application because of the Overdraft ? As I mentioned before we fall under Category C (RENTAL INCOME) . He is currently working at this moment and his salary goes to his Business Account and also his income from Vending Machines but of course we dont need to submit his business account to ECO , am I right ? .. Can we use the ''ADDITIONAL INFORMATION'' last page of appendix to explain properly why its Overdrawn ?

You do need to submit his business account. They want to see where the salary is paid into.

Hi @Maharg

Do wee need to? The payment from 5 tenants goes to his Personal Account . We're using category C . What I'm worried is his account £4000 overdrawn.

If you are not declaring anything from his business account then I guess there's no need, but wouldn't this money be included on his tax return so would surely have to be accounted for?

With regards overdraft I'm afraid I can't answer that as I don't know.

Actually his accountant still doing and calculating his income . Thats why until now I'm still waiting the documents so that we can lodge our application nextweek .

The overdraft is of no importance; it is only the income that is taken into consideration.

Big Relief , Thanks @Methersgate . I'm just worried because of this overdraft but I'm relief now .

To add to that, I've read about a couple of approved applications in which the applicants had an overdraft. You'll be fine!

Hi @Numpters , did you pay priority service? Can u let us know if you have already a result . Thanks .

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