Mortgage/Current Account Advice

Fern0305

Hi,

I am looking to take a mortgage out over the next 6-8 months to buy my first home with my partner.I have an appointment to open a Nationwide save to buy account to maybe take advantage of the 5% mortgage offer, if I cannot save a larger deposit.

I want to get my banking in order so I am in the best position possible to be accepted for a mortgage - Nationwide told me it would be best if I open a current account when we have our appointment. Apparently this will work out better if I apply for a mortgage with them,

Does it really make any difference to have your current account with the bank you may take a mortgage with? I have recently switched to Halifax and don't particularly want to leave them.

Thanks

bigadaj

Opinions vary but logically it would make sense for them to view you more favourably with your current account with them, as it potentially gets them more business and they can see how you operate your account.

You don't have to switch obviously but lenders are very picky with lending to people with small deposits, so they could equally decide to lend to someone else, nothing certain just an opinion.