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Product transfers and switching current accounts
maturelearner
Posts: 80 Forumite
Hi!
My mortgage deal is due to end next May 2023. If I switch current accounts in the next few weeks will it affect my likelihood of obtaining a product transfer. My income means it is difficult to remortgage with another provider due to lower income than when I took out the mortgage, though my current mortgage is lower than initially too.
Thanks for any advice.
My mortgage deal is due to end next May 2023. If I switch current accounts in the next few weeks will it affect my likelihood of obtaining a product transfer. My income means it is difficult to remortgage with another provider due to lower income than when I took out the mortgage, though my current mortgage is lower than initially too.
Thanks for any advice.
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Comments
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@maturelearner With mainstream lenders, as long as you aren't looking to borrow more or change term, PTs involve no credit checks, income checks or questions about your circumstances.
So opening a new current account shortly before a PT should have no impact.
I am a Mortgage Adviser - You should note that this site doesn't check my status as a mortgage adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.
PLEASE DO NOT SEND PMs asking for one-to-one-advice, or representation.
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Sorry for the delay just wanted to thank you for your information/advice.0
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