FTB - Mortgage Question!!!

fioney25

Hello,

Our broker is starting my partner and I's Mortgage Application process and has requested for our direct debit details for the mortgage payments to come out.

My partner and I have an appt with a bank to open a joint bank account in 2 weeks time (It's on a Saturday as we both work 9-5 during the week) which was booked 2 weeks ago!!!!!

Our broker seems pretty urgent to have the direct debit details of our account. Would we be able to give our broker one of our personal current account details and then change the details once we have our joint account or would it be too late for this to be changed?

Any help is appreciated.

Thanks,

Fiona

kingstreet

Provide one of your sole account's details now.

Do not make any applications for credit (including new bank accounts) between making a mortgage application and completion.

A credit search after the application is submitted could cause problems during the processing of your case.

fioney25

Thanks Kingstreet. So would you recommend for us to provide one of our sole account details until we have been made an offer?! or shall I ask my broker to hold off for 2 weeks until we get this account and then he can apply after that date?


Sorry for my lack of knowledge on this subject.

Thanks,

amnblog

provide sole for now - why complicate matters?

kingstreet

I'm suggesting you leave it until after you complete and move in.

Applying for any credit on the run up to, or during the mortgage application process will do you absolutely no good, but does have the potential to harm a borderline mortgage application quite dramatically.

Do you want a new bank account, or a new home?

fioney25

Very true amnblog.

My main question is can this be changed to a joint account after completion?!

Thanks Kingstreet! Much appreciated, there's no rush and we can wait for the joint bank account

amnblog

yes it can, before or after. But wait for the offer first.