Withdrawing Premium Bonds.. Options

saver861

colsten wrote: »

any current accounts applied for now will have literally no impact on a mortgage application in 6-12 months time. It is also easy to explain (and prove with bank statements) to a mortgage broker that you were opening the accounts in order to get better interest for your savings, not in order to increase your access to credit, as you would do with credit cards.

The search stays on the credit file for 6 months and thus after will be cleared. Best way to avoid building up searches is to open an account every three months thus there will always only be one or two searches showing.

I'm not sure I would take the risk of impacting my credit rating if I was intending to apply for a mortgage in the near future, regardless of the reasons or explanations I could provide. It may well limit the scope of options or impact on the application in some manner.

colsten wrote: »

I beg to disagree, as there are hundreds just alone in switching bonuses to be had. You don't even need a lot of money in order to do that.

You don't need to beg to disagree - I'm agreeing with you. There is a deal of money to be made from bonuses, I've had quite a few of them! However, the OP can do this without moving any of his money if he did not wish to.

colsten wrote: »

You can put £21,000 alone into 3% accounts that have nil charges.

Again, agreed, but you are dealing with more accounts. So, one Santander versus a number of others to make up the £21,000. It's just a matter of simplicity v gain for the time period that the OP has referred to.

colsten wrote: »

The link to the best accounts has now been posted twice in this thread. No need to guess as it's all written down.

A quick scan seems to suggest that my understanding is around about correct.