Not taking mortgage after acceptance - impact on credit report

vinit_tyagi

Hi,
I am in the process of buying a new build house with help to buy. I applied for mortgage with Santander and it has been accepted but I have changed my mind now and do not want to buy this property.
Santander has already done credit check and I can see two hard checks on my credit file. I am wondering what impact this would this have when I apply for mortgage again later when I find a suitable property. Will it do any harm? I haven't taken the mortgage yet. No contracts exchanged yet.

Thanks.

[Deleted User]

The searches will remain on your files. Nothing more than that.

rob_cb

For my first house many years ago, I ended up applying to Nationwide twice (wasn't sure first time, sure second time) a bit like you and was succcesful.

Last year, we got rejected by one lender and accepted by another (1 month later).

As long as it's not like 4 or 5 mortgage applications in the space of a few months, 1 or 2 probably won't raise any suspicions. They also know that sometimes chains fail or the mortgage offer expires while the build is incomplete etc.