Should I change current account to get a better mortgage deal in the future?

dadio77

Hi All!

I have banked with Natwest for over ten years, and am thinking about getting back on the property ladder in the next six months. Their mortgage rates are constantly higher than other banks such as Santander, Lloyds TSB and HSBC (based on a 90%LTV).

Would I be better off changing banks now in order to get a better deal, or a better chance of being accepted, or does it make little difference?

Many Thanks in Advance!

powerwin

I personally don't think there's much point in switching ... even if there was, by the time you are ready to get the mortgage, your new bank might not offer the best deal.

Rgds

Joe_Bloggs

The time with your current bank does appear to count for something. Potential lenders, for some reason, will want to know. Don't trash this stable if unproductive financial relationship, if there is no need.

There is no reason that you can't have two or more current accounts especially if it means qualifying for better rates.


J_B.

dadio77

Joe_Bloggs wrote: »

The time with your current bank does appear to count for something. Potential lenders, for some reason, will want to know. Don't trash this stable if unproductive financial relationship, if there is no need.

There is no reason that you can't have two or more current accounts especially if it means qualifying for better rates.


J_B.

Thanks J_B - so if I move to santander for eg who have some good incentives right now, can I keep my Natwest account, and continue to use the Natwest details on any applications, even though my wages and DD's will be via another bank?