Loans and credit file

pstewart11

Hi I am looking for some advice. I have submitted an application with my bank for a personal loan. ( I have weighed up all my options and this is best for me). I have had a mortgage for just over a year with them so thought it would be best to keep everything with them. I am awaiting their decision at present however out of curiosity I had a look online at some other lenders and notice I can get a cheaper APR (just 1% cheaper) my question is: should my bank approve my application can I apply with another lender or will this be detrimental to my credit file. I have not applied for any other credit within the last 15 months (since my mortgage).

Hope this makes sense - grateful for any advice

P

[Deleted User]

A second search will appear on your credit files.

In isolation, that wouldn't cause most mainstream lenders undue concern. However, your circumstances will impact the effect it may have.

pstewart11

My circumstances are good, I have a good credit history, no defaults or missed payments. The majority of my accounts have been settled and closed. I have very little debt outstanding and I earn a good wage. So I would hope that would all stand me in good stead?

[Deleted User]

Shouldn't be anything to worry about.

pstewart11

Thanks so much