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Changing Current Accout
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mcpitman
Posts: 1,267 Forumite
What does changing your current account do for your credit worthiness?
Would like to change, but have got to a really good place with all credit and will be looking to purchase a property in early 2015.
Would like to change, but have got to a really good place with all credit and will be looking to purchase a property in early 2015.
Life isn't about the number of breaths we take, but the moments that take our breath away. Like choking....
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Hi Mcpitman,
Congratulations on getting your credit to a place you want to be!
In the short term opening a new account could cause a reduction in your credit worthiness, this is because a new search will be recorded, and while the account is new, lenders may also want to see how well you run the new account before offering further credit.
Our Ask James page deals with this question in more detail here
If you are planning on applying for a mortgage in the next few months this might be worth considering.
Good luck with the mortgage whichever option you decide!
Regards
Neil“Official Company Representative
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Posts by James Jones, Neil Stone, Stuart Storey & Joe Standen0 -
Thanks all, a simple answer to a simple question.
Think i'll leave it until after the house purchase, I have a good 15 year history with current provider, just the account doesn't offer any extra's. (without cost).Life isn't about the number of breaths we take, but the moments that take our breath away. Like choking....0
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