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Bank Accounts - Quick Question
Legacy_user
Posts: 0 Newbie
Hi,
I'm preparing my banks and finances before I apply for a mortgage...
I understand having several bank accounts is not good and can affect a Credit Rating....
Is it having several banks, such as a Natwest, Barclays, Santander and a Lloyds account that is the issue?
or
Can having a bank with Santander with a Current Account, Savings account, ISA, and a 123 account also affect Credit Scores.?
or both?
Is it the owning of an account with multiple Banking Companies that is the negative or does the owning of multiple accounts under one Bank cause negatives too?
Cheers.
I'm preparing my banks and finances before I apply for a mortgage...
I understand having several bank accounts is not good and can affect a Credit Rating....
Is it having several banks, such as a Natwest, Barclays, Santander and a Lloyds account that is the issue?
or
Can having a bank with Santander with a Current Account, Savings account, ISA, and a 123 account also affect Credit Scores.?
or both?
Is it the owning of an account with multiple Banking Companies that is the negative or does the owning of multiple accounts under one Bank cause negatives too?
Cheers.
0
Comments
-
Not sure where you read this but do not concern yourself. It is not a problem.I am a Mortgage Broker
You should note that this site doesn't check my status as a Mortgage Broker, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.0 -
I wouldn't worry. I had five different personal accounts (Nationwide, Lloyds, TSB x2 and Halifax) and a joint account.
Got my mortgage fine. They even got 3 months worth of statements from all of those, and each month it showed I circulated £1000 round them to meet the funding requirements!0 -
Its the credit file history that is more important"It is prudent when shopping for something important, not to limit yourself to Pound land/Estate Agents"
G_M/ Bowlhead99 RIP0 -
Not an issue whatsoever.
If you had several accounts where you were in overdraft that would be another matter.Mortgage remaining: £42,260 of £77,000 (2.59% til 03/18 - 2.09% til 03/23)
Savings target June 18 - £22,281.99 / £25,0000
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