Multiple Mortgage Applications

Ed_Zep

Hi,

I've currently got an application with the Nationwide but First Direct are doing a near identical deal.

Is there any harm in having two or more mortgage applications going at the same time? I'm think about credit scores, etc. but anything else?

Thanks,
Ed.

csgohan4

one is enough and multiple searches in a short space of time will hurt your credit history. Any particular reason 1 over the other.


Having 2-3 at the same time won't make a difference, affordability is key in your application. If you have tooo much debt or not enough income you will fail, whoever you go to generally

Lilla_D

chgohan4 is right - 3 or more credit searches within a short space of time (i.e. a few months) are not normally recommended, as they might cause a lender to decline an application purely because of the number of searches. Also, every lender is different in their criteria, so if you pass for Nationwide, you might not for First Direct. But assuming that you get both mortgage offers and the deals are "near identical", what would you like to do with them, as ultimately you'll have only one of them completing?