New Bank Account affect mortgage?

modelreject

Hi,

I will be applying for a mortgage in the coming 3-4 months and need to open a business bank account for my new business. Any bank account will do. Will this appear on my credit check. Is it wise just to leave it until I get a house?

Many thanks,
C

Senior_Paper_Monitor

Having an additional/new account should have no impact - assuminmg it doesn't come with utilised overdraft and/or loans etc.

However - 'a new business' may well do so (and to a considerable extent) if this is your primary source of income.

As usual - far more information about your circumstances and mortgage needs would be needed to express any valid opinion.

modelreject

Thanks for the quick response.

I have started a business which I work on during the evenings and weekends. I have been in my current job for over 3 years and don't intend to freelance quite yet so I have had a consistent income. The business I have started is for extra income.

I was thinking of just opening a simple saver account with my current bank. I already have 2 bank accounts with them. I will ask if they will have to do a credit check for me to open this other account. This is the account I will put my own business money into.

Hope this is enough information.

Many thanks again,
C

Senior_Paper_Monitor

Not my area of expertise - but I doubt there is any credit check conducted in the circumstances you give.

Impact on your mortage application zero - they request your main (income receiving) account details and the account you will pay from (if these are different).

The fact that you operate an additional business with no liabilities and a deposit/current account in credit is of no in interest to them

modelreject

Thanks. Let's hope that's the case.

modelreject

Went to the bank and they said they still do a credit check, even though I have two accounts with them already. They said if I open an EasyCash(Dead giveaway of which bank it is) account that there won't be a credit check. Does anyone know if this is truly the case? I don't want to take the risk.

They also said that even opening a new account with a credit check, won't affect a mortgage application. I very much doubt this.

Many thanks,
C