Moving house and switching bank accounts - which order?

I am buying a new house and plan to complete at the end of January. My new mortgage is with Nationwide and my application has been approved. I also want to move my current account to Nationwide but unsure about when to do so.

Having read lots of MSE posts about mortgages I am aware that moving bank account and the resulting credit check might impact on my mortgage agreement so I am thinking I should wait until I move house and then apply? However does this mean I would need to wait until I am registered on the electoral register at my new address before I can apply?

The reason I am keen to switch sooner rather than later is I that I currently receive a grand total of O% interest with my Bank of Scotland current account. I am fairly new to MSE and I am ashamed to admit that I hadn’t ever thought of switching before and have been on this rate despite having regular income and DD for past 10 years or so. Now that I have spotted the error of my ways continuing to stay with a 0% current account is now really annoying me. :mad:

However I don’t want to do anything to mess up my mortgage offer.

I have asked Nationwide about the impact of switching to their account on a mortgage application but they said they can’t give advice but that a credit check would be required so it might affect my application.

So would I be able to wait till I complete on my house purchase and then start a switch the next day or will I need to wait on electoral register being updated first?Has anyone applied for a new bank account soon after moving and did having a new address delay your account switch?

Thanks in advance for any help.


  • rajeshk4u
    rajeshk4u Forumite Posts: 114
    Part of the Furniture 10 Posts Combo Breaker
    My new mortgage is with Nationwide and my application has been approved.

    You already have your mortgage approved and you are about to complete, so there is nothing to worry about.

    The only glitch, is that you don't loose any letters as you change address.
    So would I be able to wait till I complete on my house purchase and then start a switch the next day or will I need to wait on electoral register being updated first

    On the forms they do ask previous address in the last three years. They also ask how long you have lived at your new address. Even if there is a glitch, you can ask them to review it, as you have taken out a mortgage with Nationwide (and that is your proof of new address).

    It will be fine which ever way round you do it.
  • colsten
    colsten Forumite Posts: 17,597
    10,000 Posts Seventh Anniversary Photogenic Name Dropper
    EyeonthePrize, don't forget the Nationwide Recommend a Friend offer. If you don't know anyone who could refer you, check out the MSE Referrer's Board for offers.
  • System
    System Community Admin Posts: 178,030
    10,000 Posts Photogenic Name Dropper
    Community Admin
    If you are paying in less than 1K then you'll not get interest from a FlexDirect account either.

    Keeping BOS Vatange plus a Nationwide account might be good option - look at FlexDirect or FlexPlus.
  • EyeonthePrize
    EyeonthePrize Forumite Posts: 6 Forumite
    edited 27 December 2018 at 6:15PM
    Thanks everyone for you replies.

    I think I’ll just wait and switch as soon as I move.

    Rajesh - although my mortgage has been approved I have read threads on the mortgage board about offers being withdrawn prior to completion if anything has changed on your credit report. Although this seems unlikely for just a new current account I am such a worrier that I would spend from now until completion worrying that they had a reason now to withdraw the offer.

    Colston - My DH is a nationwide member so is going to recommend me:j thanks for the advice though as the extra cash will certainly be welcome.

    Heng Leng - I am such an idiot that I don’t even have Vantage turned on for my account. When I asked the bank to about activating Vantage they said that this would need a credit check - so again I don’t want to do it before I complete on my mortgage. I do pay in more than £1000 a month and have done for the last 10 years so will benefit from Flex Direct account - just really annoyed with myself that over the last decade I never bothered to check for a better account. I’ve definitely learnt my lesson now and won’t be making the same mistake in future.
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