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Will applying for an ISA affect my credit rating?
devonmaid77
Posts: 59 Forumite
Apologies if this is a silly question! And if it's in the wrong place!
My husband and I are in the process of applying for a mortgage. We have already been declined by one lender (not because of our finances) and have now submitted a full application to a second lender.
We both have savings accounts linked to our bank accounts - and both have horrifically low interest rates, hence the desire to move to an ISA each. But I really don't want to do anything that is likely to jeopardise our mortgage application.
Would it be best to leave this until we have secured our mortgage, or has it no relevance to our credit files and I'm just being silly?
Any replies appreciated.
My husband and I are in the process of applying for a mortgage. We have already been declined by one lender (not because of our finances) and have now submitted a full application to a second lender.
We both have savings accounts linked to our bank accounts - and both have horrifically low interest rates, hence the desire to move to an ISA each. But I really don't want to do anything that is likely to jeopardise our mortgage application.
Would it be best to leave this until we have secured our mortgage, or has it no relevance to our credit files and I'm just being silly?
Any replies appreciated.
Debt free wannabe: Original debt/Payments made/Debt now
CC1: £717.00/£30.00/£687.00
CC2: £773.25/£215.00/£558.25
Loan: £9627.00/£217.00/£9410.00
Total debt: 11117.25 Total debt now: 10655.25
Savings: £2 pot: £48 ISA: £13.65/£600 Mortgage costs account: £3000
CC1: £717.00/£30.00/£687.00
CC2: £773.25/£215.00/£558.25
Loan: £9627.00/£217.00/£9410.00
Total debt: 11117.25 Total debt now: 10655.25
Savings: £2 pot: £48 ISA: £13.65/£600 Mortgage costs account: £3000
0
Comments
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Is the correct answer.devonmaid77 wrote: »...no relevance to our credit files and I'm just being silly?
You'll be searched for the savings account, but the search is only done for ID purposes and money laundering checks etc. The search is an 'unrecorded' one, meaning it's not visible to anyone (other than yourself and the CRA) searching your file for credit purposes.0 -
Thanks for the reply yorkshireboy. I thought I may just be being silly! We've just had to work so hard to get where we are mortgage-wise and I just really didn't want to upset the apple cart, as it were.
Thanks again.Debt free wannabe: Original debt/Payments made/Debt now
CC1: £717.00/£30.00/£687.00
CC2: £773.25/£215.00/£558.25
Loan: £9627.00/£217.00/£9410.00
Total debt: 11117.25 Total debt now: 10655.25
Savings: £2 pot: £48 ISA: £13.65/£600 Mortgage costs account: £30000
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