Nationwide Flexdirect opening

Nuggy96

I am hoping to complete my house purchase for a new build (Covid-19 willing) in May/June time. I have just noticed the Nationwide Flexdirect will be stopping the 5% interest on May 1st, and notice that it requires a credit check. Will opening this bank account w/ a credit check affect my mortgage at all? I won't be applying for the 0% overdraft so it would just be the current account, no credit, but obvs requires the credit check regardless.

Thanks,

badger09

Nuggy96 said:

I am hoping to complete my house purchase for a new build (Covid-19 willing) in May/June time. I have just noticed the Nationwide Flexdirect will be stopping the 5% interest on May 1st, and notice that it requires a credit check. Will opening this bank account w/ a credit check affect my mortgage at all? I won't be applying for the 0% overdraft so it would just be the current account, no credit, but obvs requires the credit check regardless.

Thanks,

Presumably, with a completion date so soon, you already have your mortgage in place. In which case, a single credit check should have no impact, particularly if you decline any overdraft offer. (Current accounts entail a credit check, because even with no overdraft facility, it is possible to be overdrawn)

Nuggy96

We have our mortgage offer yes. It has an expiry date of 13th July, which slightly concerns me given its a new build and due to complete May. No idea if the construction has halted or not. Therefore, not sure whether we will need to re-apply for a mortgage. Given the fact we have not exchanged yet i don't think we are applicable for this 3 month extension people are getting from banks

badger09

I really would not worry about the possible impact of 1 credit check.

Nuggy96

hmm ok, great thanks. I just don't want to scupper my chances of a mortgage especially in this climate for £125. Think I'll just leave it.