More than 1 mortgage application

CaptainWales

I have applied for a Halifax mortgage today. Seen a few other mortgages that I woudl be happy with - should I also apply for these to increase my chances of being successful or will this damage my credit rating / chances of getting mortgage?

ACG

Make an application and stick with it unless you get told it has been declined.

There is nothing wrong with changing your mind (in the main) if you would prefer to do that but dont be having multiple applications going through at the same time, it will have the opposite effect.

ethank

Don't hop around.

newdud

If you apply for more than one mortgage at the same time it will effect you credit score as the lender will do a search one you and it will leave a footprint on your file !

Also if lender A notice that there is another application to lender b from the same person then they will get suspicious and decline the application. BTW, all lender share data between them.

Best to decide on one and stick with it

eeyoreworld

I have done a duality app, one with Santander through broker in early Feb which they have been messing around with and asking for docs they have had over and over.

We have got permission to let on current residential mortgage with Santander and the broker, foolishly thought it would be easier to do the new residential with the same lender. They have now decided to do a desktop valuation on the house we are keeping and put it over 75% LTV.

The whole this way that way was taking time and causing me stress for something which should have been straightforward. No issue with affordability for both. I took things (risky to do I know) into my own hands and did a phone app with NatWest.

NatWest have approved all in just over a week and instructed valuation so was definitely the right thing to do for us, a very calculated risk so we don't lose the house we want. I used to be an IFA / MA so have industry experience and would say this has paid off for us this time but could have easily have gone the other way. I know our case was squeaky clean, lemonade lifestyle on a champagne budget! We have no debt and good savings so it isn't something I would recommend unless you are sure of your circumstances and the outcomes.