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    • shopaholicno1
    • By shopaholicno1 5th Mar 18, 3:55 PM
    • 129Posts
    • 474Thanks
    Applying for new current account prior to mortgage
    • #1
    • 5th Mar 18, 3:55 PM
    Applying for new current account prior to mortgage 5th Mar 18 at 3:55 PM
    We applied for a new current account with a good cash back incentive in January. For some reason it's left not one, but 3 searches on my report as a result.

    My husband seems to think this isn't an issue with regards to applying for a mortgage. Although I'd love for him to be right on this, I'm a little unsure.
    How long should we leave it before applying for a mortgage? Or do we even have to wait?
Page 1
    • lmartin87
    • By lmartin87 5th Mar 18, 7:59 PM
    • 18 Posts
    • 2 Thanks
    • #2
    • 5th Mar 18, 7:59 PM
    • #2
    • 5th Mar 18, 7:59 PM
    I'd always planned to make the 3-6 month lead up to a potential mortgage application squeaky clean. But as it happens we saw a house we liked, got a speculative DIP from Nationwide and are now progressing.

    Applied for the mortgage in Feb and in the 3 months preceding it I'd taken out car finance, opened an American Express card and a Santander current account. Mortgage offer arrived without a hitch. I wouldn't have done those things had I known I'd be applying for a mortgage a little sooner than originally planned!
    • cjv
    • By cjv 5th Mar 18, 10:27 PM
    • 222 Posts
    • 109 Thanks
    • #3
    • 5th Mar 18, 10:27 PM
    • #3
    • 5th Mar 18, 10:27 PM
    What are the wordings on the 3 searches? If only one says "checking credit application" or similar, that will be the only one that matters. If there are anti money laundering, id checks etc then they will not have any impact.

    If you do indeed have 3 hard credit application searches from one product application you can dispute them with the credit agency and ask for 2 to be removed.

    Here is an example from my own files, showing 2 searches carried out by halifax for a current account:

    Bank Of Scotland Plc (Sr, Sa, Tac)
    Halifax Personal Current Accounts 7.2 (Cr Bsb Api)
    Checking Credit Application 2 Nov 2017

    Bank Of Scotland Plc (Sr, Sa, Tac)
    Halifax Personal Current Accounts 2.3 (Ar Api)
    Administration Review 2 Nov 2017

    The second search "Administration Review" will have no impact on my future credit applications.
    Last edited by cjv; 05-03-2018 at 10:31 PM.
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