Swap from Halifax to Santander 123. CCJ on file?

StrugglingYouth

Hi all,

I currently bank with Halifax, from which I earn about £100 a year interest/rewards etc.

I have just completed the Santander calculator and it suggests given my situation I could receive £318 a year in interest and rewards from them.

I have a 'settled' CCJ against my name which still has about 4 years left to run before it drops off. I have the certificate of satisfaction for this.

My question is, can I switch without marking my credit file? Id expect they would do a credit check on me before agreeing the switch.

I plan to buy a house after my CCJ has dropped off my file in around 4-5 years time so I dont want another mark against my name.

molerat

Yes they will search your credit report but it will not leave any negative marks in the long term - too many searches in a short space could have a short term negative effect. The CCJ may affect your eligibility for the account or an overdraft though.

eskbanker

Why switch? If you're getting rewards from your Halifax account and can get a Santander 1-2-3, keep both and benefit from the Halifax £5 monthly rewards (by ensuring you continue to satisfy their criteria for paying these) and the 1-2-3 interest (on the main balance).

nearlyretired2004

so .....keep Halifax and open Santander as above, and also open a new 'donor' account and switch that into your EXISTING Halifax a/c (assuming that wasn't already a switch....) and get ANOTHER £125.....

StrugglingYouth

eskbanker wrote: »

Why switch? If you're getting rewards from your Halifax account and can get a Santander 1-2-3, keep both and benefit from the Halifax £5 monthly rewards (by ensuring you continue to satisfy their criteria for paying these) and the 1-2-3 interest (on the main balance).

It didnt even occur to me I could have both.. I could have my wage sent to Halifax + keep my DD's the same and simply shift the bulk of my savings into their 3% account. Im currently getting 1% with Halifax.

Thankyou sir! I arrange a meeting with Santander for Friday + pose the question.

nearlyretired2004 wrote: »

so .....keep Halifax and open Santander as above, and also open a new 'donor' account and switch that into your EXISTING Halifax a/c (assuming that wasn't already a switch....) and get ANOTHER £125.....

I have banked with Halifax my entire life. So I dont think id be eligible for the £125 offer they have.

badger09

StrugglingYouth wrote: »

It didnt even occur to me I could have both.. I could have my wage sent to Halifax + keep my DD's the same and simply shift the bulk of my savings into their 3% account. Im currently getting 1% with Halifax.

Thankyou sir! I arrange a meeting with Santander for Friday + pose the question.



I have banked with Halifax my entire life. So I dont think id be eligible for the £125 offer they have.

Pose what question?

If you mean 'Please Santander, may I open a current account with you but only use it to store my savings so you will pay me interest?' what do you think their answer might be? :cool:

There is no need to ask Santander anything.

Apply online and then do what you suggest. But please do read the T&C of the Santander account first, otherwise you might just end up with 0% interest on your savings :eek:

Archi_Bald

StrugglingYouth wrote: »

I have banked with Halifax my entire life. So I dont think id be eligible for the £125 offer they have.

Yes you are. The offer is also open to existing customers. Gotta be quick, though, as the current offer expires in a few days.

StrugglingYouth

badger09 wrote: »

Pose what question?

If you mean 'Please Santander, may I open a current account with you but only use it to store my savings so you will pay me interest?' what do you think their answer might be? :cool:

There is no need to ask Santander anything.

Apply online and then do what you suggest. But please do read the T&C of the Santander account first, otherwise you might just end up with 0% interest on your savings :eek:

Il be sure to do my readings! I meant id ask them if the CCJ would prevent me getting said account and interest rate. Id have no issue really in swapping all my banking needs to them. Id take £300+ a year over £60 + some poor interest return. Last year I made about < £15 in interest on my ISA..

Archi_Bald wrote: »

Yes you are. The offer is also open to existing customers. Gotta be quick, though, as the current offer expires in a few days.

I dont get how I can. Do I open Santander, then close my existing Halifax only to reopen Halifax later for the reward?