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Mortgage approval from two banks at same time?

s7ryf3925pivug · 2018-05-01 08:15:41

Can you get mortgage approval from two banks at the same time? Not talking about actually taking out the mortgages, just if you can keep the option of which to choose.

01-05-2018 9:15am

#1

s7ryf3925pivug

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Can you get mortgage approval from two banks at the same time?
Not talking about actually taking out the mortgages, just if you can keep the option of which to choose.

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#2 01-05-2018 12:25pm

Liam D Ferguson

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Yes you can. There used to be a practice in some quarters of sending applications to all lenders in the market but I wouldn't be a fan of that. Each time a lender makes an enquiry about your credit record as part of the application process, the enquiry is logged on your credit record for other banks to see. So if you have a whole heap of enquiries on your credit record, it can make a lender wonder if you were declined by the others etc.

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