two bank accounts - (re)mortgage applications

lexia

Is there any issue with me having two bank accounts - one for bills & income, and one for everyday spending? I find it easier to manage my finances like that, but does this pose any issue with lenders? The lenders usually request to see last 3 bank statements (in my case it would be 3x statements for each bank acct, right?).

My fix rate ends in a couple of months and I'm considering remortgaging (if I can), rather than staying with my current lender.

megaginge

Most people have multiple... joint accounts, savings accounts, an account each etc.

they'll just want to see the one that your salary goes into

your credit file will account for how much debt you have in any case

You should be applying for mortgages NOW (or last month) if your fix ends in a "couple of months". It can often take 3+ months to arrange.

You could always speak to an independent mortgage broker

lexia

Thanks, the earliest I can apply with no ERC is the 1st of May, so there is still time to contact brokers. Just wanted to understand if this multiple accts thing is a problem, as I started using 2 accounts only recently (last year).

GolfFoxtrot

Many companies will give you an offer for 6 months.

My deal ends April 28th and I'm going through a re-mortgage application with a new vendor.

megaginge

lexia wrote: »

Thanks, the earliest I can apply with no ERC is the 1st of May, so there is still time to contact brokers. Just wanted to understand if this multiple accts thing is a problem, as I started using 2 accounts only recently (last year).

The earliest you can COMPLETE is the first of may.

The earliest you can apply is now. Just tell your broker, or lender direct if thats what your doing, when your ERC period ends and they'll offer accordingly.

Besides. It's feb 2nd. March, April, May. You can apply now and any offer will be valid for minimum 3 months once offered. So get on it :-)

lexia

Sorry I'm being unclear. I might be able to start the process now for a remortgage, but the earliest I can complete is 1st of August... as my fixed deal ends 31 July.

What I meant in my earlier post: if I stay with existing lender (Halifax), then earliest I can apply for a new fix rate is the 1st of May, and new deal would kick in 1st of June, with June & July ERC waived. I read that somewhere on their website.

In any case, I might wait until May, try Halifax new deal and if that doesn't work or if rate isn't good, I will try to remortgage. I want to make sure my next bank statements are as polished as they can be though. I have some credit card debt which reduces my affordability a bit, and need to ensure everything else is green and clean.

Thanks