We'd like to remind Forumites to please avoid political debate on the Forum... Read More »
We're aware that some users are experiencing technical issues which the team are working to resolve. See the Community Noticeboard for more info. Thank you for your patience.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
Close down accounts no longer in use during the mortgage applicaiton
Options

ric1982
Posts: 235 Forumite

Hi,
I have read on the MSE guide today that you should close down any accounts that you no longer use. I am currently going through mortgage application with Nationawide.
I have two accounts which are not in use.
- Current account, Its dormant. It has about £500. balance.
- Credit card account. Not dormant but haven't used it in a while.
I was wondering is it advisable to close down account when the application is under process?
Thanks
I have read on the MSE guide today that you should close down any accounts that you no longer use. I am currently going through mortgage application with Nationawide.
I have two accounts which are not in use.
- Current account, Its dormant. It has about £500. balance.
- Credit card account. Not dormant but haven't used it in a while.
I was wondering is it advisable to close down account when the application is under process?
Thanks
0
Comments
-
Hi,
I have read on the MSE guide today that you should close down any accounts that you no longer use. I am currently going through mortgage application with Nationawide.
I have two accounts which are not in use.
- Current account, Its dormant. It has about £500. balance.
- Credit card account. Not dormant but haven't used it in a while.
I was wondering is it advisable to close down account when the application is under process?
Thanks
My advice would be if you have been accepted on an AIP or past that point then do nothing as your credit utilisation is a factor in determining your application. So where as you may think it is a good idea to close accounts it could effect things.
We have paid a load of debt off and once accepted we said to our broker we are not changing anything now and will wait until after completion before closing the accounts0 -
Leave your accounts as they are.0
-
Thanks that seems good advise and is my thinking. However my MA has said you can close down account during the application. It doesn't effect the application!
Any MA here can put some light on it?0 -
Thanks that seems good advise and is my thinking. However my MA has said you can close down account during the application. It doesn't effect the application!
Any MA here can put some light on it?
It is like navigating the Matrix with these applications and when relying on systems not even the Lenders own MA's can tell you 100%.
The easy way to look at it is if you do not close them until after completion then everything stays as is. Basically if it is not going to make your application process any easier then leave it0
This discussion has been closed.
Confirm your email address to Create Threads and Reply

Categories
- All Categories
- 350.9K Banking & Borrowing
- 253.1K Reduce Debt & Boost Income
- 453.5K Spending & Discounts
- 243.9K Work, Benefits & Business
- 598.8K Mortgages, Homes & Bills
- 176.9K Life & Family
- 257.2K Travel & Transport
- 1.5M Hobbies & Leisure
- 16.1K Discuss & Feedback
- 37.6K Read-Only Boards