Applying for mortgage—should I switch now?

CHlHlRO

That’s the question! There are savings to be had, according to the Cheap Energy Club, but with us about to apply for a mortgage and moving (hopefully) shortly thereafter (if successful, obviously!) is it wise to switch energy suppliers NOW?

I’m considering—
•The supplier would have to offer a portable tariff (or no exit fee), so I might not be able to secure the cheapest deal anyway.
•The cheaper tariffs available for our current property might not be the best for our new property (although we’d be staying in the same area).
•Suppliers may run credit searches—but a ‘soft’ search would be okay. Will they tell me upfront which type they use?
•Although we could make savings, they are not huge (c. £200 per year in total for both)—is it worth the hassle or should we just set up new accounts when we move?

Sorry if this is a daft question! Thanks

System

Just a point to bear in mind, there is no such thing as a 'portable tariff'. When you move into any property you will be on a Deemed Contract with the existing supplier to that property. Call them with your details and meter readings and then you are free to switch. Any 'portability' just means that a supplier will take you back on your existing contract terms when you initiate a switch back to them in your new property. You will pay the Deemed Supplier for all energy used until the transfer goes through (21 to 35 days)

CHlHlRO

Thanks for the clarification re: portability.

tenchy

A question I've asked many times before, but no one seems to know the answer:


When a potential lender does a hard search, he sees other hard searches, but are utility searches flagged as such? This would allow the potential lender to disregard them, since they're mostly not relevant.

Bigphil1474

OP, have you checked your existing suppliers tariffs? Might save you a bit of money, but not as much as moving, to go on a new fixed (no exit fee) tariff with existing supplier, that would be more convenient to sort out when you do move.

CHlHlRO

My latest bills both say “you’re already on our cheapest tariff”, however the energy saving club indicates that other suppliers could beat them.