New mortgage and new bank account at the same time

Pickleraw

I currently have an offset mortgage through the Virgin One Account at the moment and this is my only bank account. They have confirmed the account will need to be closed when I buy our new property and place my mortgage else where.

We have had an offer accepted on a new house and after going through a broker have been offered a 2 year fixed rate mortgage with Skipton Buiding Society. My initial idea was to get a new current account with the new mortgage provider, but it appears that Skipton don't offer current accounts, only savings.

The question is, when is it best for me to apply for a new current account? I have read on various threads that it is not advisable to get new products when you are going through a mortgage application, but this is something that I will actually need to apply for. However, I really don't want something like this to impact on my mortgage application.

Any help on this would be appreciated.

Teaandtoast0124

Applying for new credit, i.e loan or credit card is bad. But a bank account is fine.

kingstreet

Anything which involves a hard footprint credit check should be avoided, such as current accounts, credit, HP etc.

However, provided the rest of your application is strong enough, one recent search shouldn't have that great an impact.

If your case is borderline to start with, it may have a greater impact. Check with your broker before proceeding.