New mortgage, bank account, credit card....
Discussion
I'd appreciate some advice before I dive into a long overdue 'spring clean' of my finances.
I'm due to remortgage in June, found a great remortgage offer through a broker which I got accepted for, etc. but then found the offer wasn't valid by the time my current redemption period finishes, so I will need go through it all again this month. The broker says a second search and credit check is not a problem, etc. and i'm ok with that but I also want to make some changes to my finances over the next few months, including:
Bank account - I've been with Halifax for about 6 years, and i'm on one of their package accounts which charges me £15 for a few minor benefits. The only one I like is the mobile phone insurance. I want to switch banks, take advantage of the switching cash and get decent savings rates, so a new bank account is on the horizon. I wouldn't need an overdraft.
Credit Card - I have 2, both paid in full but I'm starting a new job (did I mention that bit?
) and as part of this I will be doing a lot on expenses (hotels, flights, etc.) and the company allow me the option to use my own credit card so I figured it would be useful to get one of the cards offering rewards (such as British Airways Amex or similar) and obtain the benefits. I would cancel one of the other cards.
Car - my wife's car is on PCP and is due to go back soon. We are thinking of going down the lease route for her (I already have one) so this would need another application.
I'm just trying to get some advice on whether doing so many things in a short time is a good idea, is there a preferred order etc? . Perhaps wait for the credit card for a bit?
Appreciate any insights. Thanks.
I'm due to remortgage in June, found a great remortgage offer through a broker which I got accepted for, etc. but then found the offer wasn't valid by the time my current redemption period finishes, so I will need go through it all again this month. The broker says a second search and credit check is not a problem, etc. and i'm ok with that but I also want to make some changes to my finances over the next few months, including:
Bank account - I've been with Halifax for about 6 years, and i'm on one of their package accounts which charges me £15 for a few minor benefits. The only one I like is the mobile phone insurance. I want to switch banks, take advantage of the switching cash and get decent savings rates, so a new bank account is on the horizon. I wouldn't need an overdraft.
Credit Card - I have 2, both paid in full but I'm starting a new job (did I mention that bit?
) and as part of this I will be doing a lot on expenses (hotels, flights, etc.) and the company allow me the option to use my own credit card so I figured it would be useful to get one of the cards offering rewards (such as British Airways Amex or similar) and obtain the benefits. I would cancel one of the other cards.Car - my wife's car is on PCP and is due to go back soon. We are thinking of going down the lease route for her (I already have one) so this would need another application.
I'm just trying to get some advice on whether doing so many things in a short time is a good idea, is there a preferred order etc? . Perhaps wait for the credit card for a bit?
Appreciate any insights. Thanks.
Jefferson Steelflex said:
I'd appreciate some advice before I dive into a long overdue 'spring clean' of my finances.
I'm due to remortgage in June, found a great remortgage offer through a broker which I got accepted for, etc. but then found the offer wasn't valid by the time my current redemption period finishes, so I will need go through it all again this month. The broker says a second search and credit check is not a problem, etc. and i'm ok with that but I also want to make some changes to my finances over the next few months, including:
Bank account - I've been with Halifax for about 6 years, and i'm on one of their package accounts which charges me £15 for a few minor benefits. The only one I like is the mobile phone insurance. I want to switch banks, take advantage of the switching cash and get decent savings rates, so a new bank account is on the horizon. I wouldn't need an overdraft.
Credit Card - I have 2, both paid in full but I'm starting a new job (did I mention that bit?) and as part of this I will be doing a lot on expenses (hotels, flights, etc.) and the company allow me the option to use my own credit card so I figured it would be useful to get one of the cards offering rewards (such as British Airways Amex or similar) and obtain the benefits. I would cancel one of the other cards.
Car - my wife's car is on PCP and is due to go back soon. We are thinking of going down the lease route for her (I already have one) so this would need another application.
I'm just trying to get some advice on whether doing so many things in a short time is a good idea, is there a preferred order etc? . Perhaps wait for the credit card for a bit?
Appreciate any insights. Thanks.
Mortgage first...................I'm due to remortgage in June, found a great remortgage offer through a broker which I got accepted for, etc. but then found the offer wasn't valid by the time my current redemption period finishes, so I will need go through it all again this month. The broker says a second search and credit check is not a problem, etc. and i'm ok with that but I also want to make some changes to my finances over the next few months, including:
Bank account - I've been with Halifax for about 6 years, and i'm on one of their package accounts which charges me £15 for a few minor benefits. The only one I like is the mobile phone insurance. I want to switch banks, take advantage of the switching cash and get decent savings rates, so a new bank account is on the horizon. I wouldn't need an overdraft.
Credit Card - I have 2, both paid in full but I'm starting a new job (did I mention that bit?
) and as part of this I will be doing a lot on expenses (hotels, flights, etc.) and the company allow me the option to use my own credit card so I figured it would be useful to get one of the cards offering rewards (such as British Airways Amex or similar) and obtain the benefits. I would cancel one of the other cards.Car - my wife's car is on PCP and is due to go back soon. We are thinking of going down the lease route for her (I already have one) so this would need another application.
I'm just trying to get some advice on whether doing so many things in a short time is a good idea, is there a preferred order etc? . Perhaps wait for the credit card for a bit?
Appreciate any insights. Thanks.
Time with bank will be part of the mortgage companies scorecard. Longer you are with them the better your score will be up to a point. I'd stay put until mortgage app approved
You can move from the URCA to a standard account and save the £15 with no impact
Taking new finance won't affect you if affordability is ok. This is the banks perspective on affordability and not yours so if you are on the cusp tread carefully
You can move from the URCA to a standard account and save the £15 with no impact
Taking new finance won't affect you if affordability is ok. This is the banks perspective on affordability and not yours so if you are on the cusp tread carefully
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