What effect does lots of bank accounts have on your credit rating?

anna42hmr

ColoredSands wrote: »

No need at the moment but am thinking about purchasing a property in the near future so was just curious about this.

all lenders will look at it differently, however i had no problem with the number of current accounts when i applied for my mortgage with tsb (completed end of Jan) and at that time for savings reasons i had:

2 x Lloyds accounts (1 normal account as my main bank accounts and 1 club account)
3 x halifax (for the rewards)
2 x TSB plus accounts
1 x TSB enhance
1 x yorkshire bank account
3 x bos vantage accounts
2 x Tesco

only the main account had an overdraft facility on it (and has not been used).

To be honest when i spoke to the mortgage advisor when applying they were fully aware that the accounts were being used for savings etc and i think that this is trick is known to them. (as i was holding savings plus deposit plus money set aside for solicitors fees etc)