Multiple mortgage extension / remortgage applications

We recently applied to extend our borrowing and release some equity on our current mortgage. It was accepted but we didn't go ahead and sign for it in the end because we decided to remortgage instead.
We want to apply for that soon but we will not draw on the offer until our ERC comes down in January.
My question is, if we apply for a loan now, but then in the next couple of months a better deal comes out - as they often do towards the end of the quarter - would we be foolish, from a credit rating POV, to make a third application in as many months?