Will applying for a new current account affect my credit score (app. for a mortgage)

Charlieh

Hello,

sorry if this has been asked before, I did search but couldn't find anything.

I will be applying for a mortgage this Summer. I understand that I shouldn't apply for a credit card or loan etc before applying for the mortgage as it may negatively affect my credit score. I just wanted to know if applying for a new current account will also affect it?

I am likely to be approved for the current account, (good with my money, no debts, savings etc etc) but I just wondered if I should wait until after the mortgage has been sorted?

I want to apply for the FlexDirect current account, in case that matters.


Many thanks in advance!
Charlie

[Deleted User]

Wait for your mortgage to complete.

Any change in your credit score is irrelevant (which no one sees) - it's about potential applications for credit (which could include overdrafts).

Best to keep a low profile until completion, however small the risks.

kingstreet

You should avoid any unnecessary applications which involve a hard credit search.

I believe this includes all current accounts, whether you want an overdraft facility or not.

Thrugelmir

Charlieh wrote: »

I just wanted to know if applying for a new current account will also affect it?

In the short term yes. As the change will be viewed negatively. Why you might ask. That's because the reason behind the switch isn't clear. Until sufficient time has elapsed for any further updates to be added in relation to your previously held account(s). You could have defaulted on the lender and simply walked away for example.