Question about First Time Buyer credit checks

TanDiy

Hi, a relatives daughter is currently looking around for her first property to purchase. At present she has her savings in a savings account paying very little interest. She is considering opening a Halifax home buyer isa and a Santander 123 account (she could put the ful 20k in this for interest). However, we are wondering if the credit checks required for these accounts might then affect a mortgage application in any way? She could find a house next week or it could take months. Just wondred if anybody knows if these credit checks so close to a mortgage application could cause any problems. Thanks for your help.

Debtslayer

I would say if she is going to be applying for a mortgage soon then there is no point changing bank accounts anyway, as she is looking now and might find a house this week. Then she's not gaining anything by switching now anyway, it may do more harm than good
Too many credit searches on file do close to applying for a mortgage is not a good idea

TanDiy

Thanks for the info. I should add that she would also be keeping her original bank account that she has had since age 14; the Santander 123 would be an addittional account for interest purposes.

amnblog

I can't see it making any difference.