New bank?

dazanteney4

Hi Guys/Girls.

I've recently moved my current accounts, savings and credit cards to Nationwide (in Feb 2013) but being honest i'm not completely happy with it. Don't get me wrong the service can be good.... it can also be poor!

I've heard good things from family members about First Direct plus the £125 they are offering at the moment also helps!

Because i moved to nationwide in Feb would it have an effect on me moving to first direct?? Or should i stay put? Im concerned about my credit score, i think its average as i dont owe much money etc. The last thing i feel i want to do at the moment is ruin my score when i apply for my mortgage in 9-12 months time!

Thanks

Darren

Tixy

Unlikely to be a problem. Credit checks done in February last time you moved are long enough ago that they are unlikely to impact on any new credit check you do now.

And if you aren't applying for a mortgage for at least another 6months then any credit checks/changes done now shouldn't have an impact on your ability to get a mortgage. So now would be a good time to move.

I would steer clear of making changes or making any credit applications for the 6months before you apply for a mortgage if possible.

dazanteney4

Tixy wrote: »

Unlikely to be a problem. Credit checks done in February last time you moved are long enough ago that they are unlikely to impact on any new credit check you do now.

And if you aren't applying for a mortgage for at least another 6months then any credit checks/changes done now shouldn't have an impact on your ability to get a mortgage. So now would be a good time to move.

I would steer clear of making changes or making any credit applications for the 6months before you apply for a mortgage if possible.

Ok thats good to know, one thing i am confused on is that do the banks and BS look favourably for mortgages and loans etc on people that bank with them?

simeyb

If you were accepted for a Nationwide account, your credit rating is likely to be pretty good as they are probably the strictest on the high street.

As for relationships with institutions, if you do have a many years relationship with some banks/Bsocs then yes it can help, but its certainly not essential.

I was with First Direct once and they are pretty good and part of HSBC - def dont go to Sharkleys or ShatWest or Banco El Gringo (Santander)!

dazanteney4

simeyb wrote: »

If you were accepted for a Nationwide account, your credit rating is likely to be pretty good as they are probably the strictest on the high street.

As for relationships with institutions, if you do have a many years relationship with some banks/Bsocs then yes it can help, but its certainly not essential.

I was with First Direct once and they are pretty good and part of HSBC - def dont go to Sharkleys or ShatWest or Banco El Gringo (Santander)!

I have to admit I'm questioning all my decisions ATM as I don't want to damage myself. Well I don't owe anything loan wise it's just a small amount on my credit card.

paulfrancis

Hi, Can anyone advise please?
I have my main current account with Santander and am perfectly happy with it. I would like to set another current account up with First Direct although I still want my main account to be with Santander. Can I simply transfer £1000 per month from my main account into First Direct account to meet the monthly requirements?
Any help would be greatly appreciated. Thank you.

Tixy

paulfrancis wrote: »

Hi, Can anyone advise please?
I have my main current account with Santander and am perfectly happy with it. I would like to set another current account up with First Direct although I still want my main account to be with Santander. Can I simply transfer £1000 per month from my main account into First Direct account to meet the monthly requirements?
Any help would be greatly appreciated. Thank you.

Paul its best to start a new thread to deal with your query.

However according to this http://www.moneysavingexpert.com/banking/compare-best-bank-accounts#firstdirect you need to switch at least 2 direct debits/standing orders using their switching service as well.