Bank account and mortgage

gillian3011

Finally in a position that we’re saving for a mortgage, still about 18months to go. 

I wondered if our bank account would have any effect on applying for a mortgage, we have a basic cash account with no overdraft. We did it a few years ago for clearing debt reasons but tbh I’m happy not having an overdraft (esp with higher charges now etc) but would having a basic account be a red flag for a mortgage??? 

We’ve both paid our salaries into it and bills paid out of it for years now. Thanks for any advice. 

Thrugelmir

Simply conducting a bank account of any kind in a proper manner is sufficient. Credit agencies and mortgage lenders do not distinguish between account product types. 

gillian3011

Thrugelmir said:

Simply conducting a bank account of any kind in a proper manner is sufficient. Credit agencies and mortgage lenders do not distinguish between account product types. 

That’s good news thank you. 

K_S

gillian3011 said:

Finally in a position that we’re saving for a mortgage, still about 18months to go. 

I wondered if our bank account would have any effect on applying for a mortgage, we have a basic cash account with no overdraft. We did it a few years ago for clearing debt reasons but tbh I’m happy not having an overdraft (esp with higher charges now etc) but would having a basic account be a red flag for a mortgage??? 

We’ve both paid our salaries into it and bills paid out of it for years now. Thanks for any advice. 

@gillian3011 No effect at all