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Can you swap lenders during application Process
lm1981
Posts: 79 Forumite
Getting really annoyed with my current bank who is processing my mortgage application....coming to point where I am thinking of just cancelling and going elsewhere....can you do that without any adverse effect?
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Comments
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You can take your business elsewhere as you choose however there are 2 things to be aware of
- If you have paid your current lender application fees, they will be forfeited
- If your current lender has performed credit searches, these will be visible to any potential new lender, which may act against a favourable application
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° the next lender may also be slow, a lot are at the moment.Mortgage started 2020, aiming to clear 31/12/2029.0
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We too switched our lenders, we did not face any issues. Rather we used it to our advantage, when we were finding new bank and spoke about the pain points to ensure that it does not get repeated.0
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