Switching Current Account Bad for Mortgage Rates?

diablodaemon

Hi all,

I'd like to switch to the First Direct current account in order to get the bonus and access to the regular saver, however, I've been banking with Nationwide all my life, and I have an odd feeling that leaving them now will make my mortgage prospects with them worse. Could this be true? Will a bank reward you with better mortgage rates for continued loyalty, or punish you for betrayal? Any thoughts would be great!

innovate

I doubt any bank care one iota about customer loyalty. If you feel better leaving some of your business at Nationwide, you can do so and still also make use of the First Direct Regular Saver. Lots of people on here have multiple current accounts, often for the reason to avail themselves of offers from the various banks.

I assume you are aware that Nationwide also do a Regular Saver, albeit just 6% AER and £250/mth max, Flexaccount holders etc only? Also, Nationwide have been offering some other 'exclusives' to Flexaccount customers - -personally, I wouldn't throw all those away for the 8% FD Reg Saver - - especially as there is no need to do so.

diablodaemon

I think you're probably right, thanks for the advice!