Loans and credit file

pstewart11 · 14 January 2019 at 4:13PM

Hi I am looking for some advice. I have submitted an application with my bank for a personal loan. ( I have weighed up all my options and this is best for me). I have had a mortgage for just over a year with them so thought it would be best to keep everything with them. I am awaiting their decision at present however out of curiosity I had a look online at some other lenders and notice I can get a cheaper APR (just 1% cheaper) my question is: should my bank approve my application can I apply with another lender or will this be detrimental to my credit file. I have not applied for any other credit within the last 15 months (since my mortgage).

Hope this makes sense - grateful for any advice

P

[Deleted User] · 14 January 2019 at 4:18PM

A second search will appear on your credit files.

In isolation, that wouldn't cause most mainstream lenders undue concern. However, your circumstances will impact the effect it may have.

pstewart11 · 14 January 2019 at 4:27PM

My circumstances are good, I have a good credit history, no defaults or missed payments. The majority of my accounts have been settled and closed. I have very little debt outstanding and I earn a good wage. So I would hope that would all stand me in good stead?

[Deleted User] · 14 January 2019 at 4:29PM

Shouldn't be anything to worry about.

pstewart11 · 14 January 2019 at 4:34PM

Thanks so much

Loans and credit file

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