Opening ISA after Mortgage Offer

Angie_B

Hi all,

I know all the advice about not opening any sort of credit account (including current account) between mortgage offer and completion and have been careful not to; however I am wondering about opening a new ISA for this year?

All common sense says that ISA is not a credit account in any way; however I just want to make sure I do not do anything to jeopardise my mortgage offer. I would actually be looking to open the ISA with the same bank I have my mortgage offer with (Nationwide). I also have my main Flexclusive account with them.

Is this a problem? Right now I have the spare money sitting in my current account as I didn't want to move it into my existing ISA as the rate there is no longer as good as current offers.

Thanks in advance for any advice!

ExpertAdvice

I dont see any problem with opening an ISA account since you have instant access to your monies in the event of an emergency (unless its Equity ISA where it might take 7-10 working days to access your monies).

Its similar to keeping your money in your bank account apart from it gives you a better interest rate.