Apply for multiple mortgages?

DundeeDancer

From the buyers point of view, once an offer has been accepted, is there any point in applying for a mortgage in more than one place just in case the preferred lender decides not to loan the money?

Anyone had any experience of doing this?

Thanks, DD.

Landofwood

Not a good idea.

For a start, it's possible that you'll be credit checked on application and at some other point before the release of funds, which could be many months later. If your lender detects several other searches from other mortgage lenders they may suspect fraud.