Barclays VS. Lloyds VS. TSB (Mortgages, offers, and lending!)

msindependant

Ok so I am luckily reaching a point in life where my 20k of debt is about to be paid off in the next 4-8 weeks.

I currently hold accounts with Barclays and Lloyds Bank, Lloyds has an overdraft which is, at present being used fully but will indeed be paid off in the very near future.

I am now betwixed and between deciding on which to bank with and which to close once out of debt.

I liked Lloyds but stopped using the account because of my Overdraft being fully used, and the fact they removed the 'Platinum' accounts, which I believe TSB still offer. Barclays are definatley up and coming but I feel as thought they've never done me any favours when needing to lend money - even prior to me being in debt and having a good score, whereas Lloyds bank, did.

Any opinions? I want a bank that in a year or so (once I am in the position to, and also once my credit history has cleared itself) will be prepared to lend me money, for perhaps a mortgage if the want arises.

I am swayed towards Barclays because they 'seem' to offer considerably more than most other banks in terms of amounts of mortgage they will lend you (when entered into their calculator). But am unsure of how realistic the amounts are.

I don't know much about TSB but have only heard good things about them.

I am open to suggestion, any comments or ideas!

Many thanks!

pinkdalek

Why not consider other banks?

Halifax offer £100, and £5 per month. They also give you £150 if you bank with them and take out a mortgage.

I've never had issues with them, I like their online banking too.

grumbler

definitely

Banks offer loans and mortgages not only to their current account holders. And, with a decent credit history, it's worth shopping around instead of dealing with your bank only.
Also, you can keep an account without using it or switch it for a bonus and other benefits rather than some mortgage in the future.

MSE article: Best Bank Accounts

Archi_Bald

msindependant wrote: »

I want a bank that in a year or so (once I am in the position to, and also once my credit history has cleared itself) will be prepared to lend me money, for perhaps a mortgage if the want arises.

All lenders will be performing credit checks, using their own rules, at the time of application. The rules will differ for different lending requirements (e.g. it would most likely be a lot easier to get a £100 overdraft than a £100K mortgage).

Holding a certain account at the lender might give you a slight advantage at some lenders but this is not guaranteed and this doesn't mean you get the best - or even any - deal from them. Shopping around for the best deal as and when you need a deal should be your preferred option.

jonesMUFCforever

OP Lloyds still offer Platinum (and Silver) accounts!