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Applying for savings account during mortgage application?
SG27
Posts: 2,773 Forumite
I am hoping to have my house sold within the next few weeks. There will be a gap of up to a few months before we complete on our purchase so I have to find a temporary home for a large sum of money. So the plan is open a savings account for my wife and myself now in readiness. However we applied to port our mortgage with some additional lending a couple weeks ago. Last we heard the valuation had been instructed.
Is there harm in the savings account applications? I assume not as they are not credit accounts but just want to double check. Google doesn't seem to give me definite answer.
Is there harm in the savings account applications? I assume not as they are not credit accounts but just want to double check. Google doesn't seem to give me definite answer.
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Comments
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Savings accounts are not disclosed to the CRA's. They have no bearing on your credit applications. Unless it's a mortgage. Where saving with the future potential mortgage lender can earn brownie points.0
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Thrugelmir wrote: »Savings accounts are not disclosed to the CRA's. They have no bearing on your credit applications. Unless it's a mortgage. Where saving with the future potential mortgage lender can earn brownie points.
Thabk you!0
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