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  • FIRST POST
    • tomocat3
    • By tomocat3 9th May 18, 12:44 AM
    • 5Posts
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    tomocat3
    Apply for mortgage next year - advisable to switch current accounts now?
    • #1
    • 9th May 18, 12:44 AM
    Apply for mortgage next year - advisable to switch current accounts now? 9th May 18 at 12:44 AM
    At the moment I have a current account which is 7 years old. I want to switch to another bank with better offers for their current accounts.

    I wonder how much of a benefit it is when it comes to applying for a mortgage to have used the same main current account for such a long time. Do mortgage providers look highly on that? This is opposed to having a current account that's less than a year old....

    I never really thought of about the potential downsides of switching current accounts, especially given how well published and encouraged it is in order to get the best deals.
Page 1
    • ACG
    • By ACG 9th May 18, 8:42 AM
    • 16,833 Posts
    • 8,784 Thanks
    ACG
    • #2
    • 9th May 18, 8:42 AM
    • #2
    • 9th May 18, 8:42 AM
    Some lenders ask how long you have been with your bank for - Natwest/RBS for example. But I doubt it plays too much of a major role on your application.
    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.
    • kingstreet
    • By kingstreet 9th May 18, 1:20 PM
    • 33,367 Posts
    • 18,052 Thanks
    kingstreet
    • #3
    • 9th May 18, 1:20 PM
    • #3
    • 9th May 18, 1:20 PM
    You don't want a credit search for a new bank account too close to your mortgage application.

    I would leave it until later unless desperate.
    I am a mortgage broker. 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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