changing banking arrangements before applying for a mortgage FTBfor first

thepeted

Hello!

I am planning to apply for my first mortgage in the spring and I am of course expecting that providers will want to examine my financial history.

I currently have 2 current accounts. 1 is with Natwest and which for several years remained effectively dormant with the balance at 1250 DR. I have just been servicing the interest payments. My other current account is with cahoot and my salary and regular outgoings move through that account.

I am now in a position to pay off the Natwest overdraft, however rather than closIng the account I am considering using the Natwest account as my main account moving forward and closing the cahoot one.

Bearing the above in mind, would this have any impact on how favourably a mortgage application would be assessed?

Thanks for any advice and hope I've posted this in the correct forum.

Pete

ACG

You may need to provide 3 months bank statements. Just keep the statements, transfer over and keep the other account open just incase. Should be fine.