Changing bank prior to mortgage application?

The_J

Both your queries. Banking with someone rarely makes any difference these days, people like to think it does because people like to think they are special but in reality it makes no difference.

Switching your bank account, i.e only being with a bank for a short period of time prior to applying for a mortgage, is also no problem if you are applying for a mortgage elsewhere. The bank account forms little of the credit search, and the length the account has been held is irrelevant.

CLAPTON

moatmeister wrote: »

Salary £40k + overtime + exes

I consider credit file to be ok, others may not!

£1000 into £3000 o/d limit

Santander (ex A&L) Personal loan £8k/5years
approx £2300 owing, £186/month
12 months still to run

Santander CC
Limit £1500 balance £1066

BoS CC
Limit £4750 balance £3070 on 0% interest deal

NatWest CC
Limit £5600 balance £3198

Nationwide CC
Limit £500 balance £100

MBNA CC
Limit £5400 balance £4003 on 0% interest deal

Within last 12 months (and mostly previously) all payments on above on time and up to date

Mortgage payments all up to date and on time in last 18 months

1 x £10 payment for mobile broadband marked late over 6 months ago due to timing error but currently under dispute

Need to get in the best position ASAP to do further advance or possible complete remortgage to cover shortfall on endowment mortgage. Can reduce CC balances further but probably not clear them all off before application. If I can get them down to 50% utilisation would that make any or no difference?

debts are rather high but probably most important is to stop using the OD... if you can't live within your current income how can you afford to repay increased borrowing?

moatmeister

Thanks.
O/d usage is a tempory blip caused by necessary cash purchase. Was at nearly £3k week before last. Should be cleared next week if bloke turns up over the weekend to buy car as promised. Then will work on CCs further prior to application